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Valley Club is considering adding a miniature golf course to itsfacility. The course would cost $44,000, would be depreciated on astraight-line basis over its 4-year life, and would have a zerosalvage value. The estimated income from the golfing fees would be$33,000 a year with $9,000 of that amount being variable cost. Thefixed cost would be $6,200. The project will require $3,000 of networking capital, which is recoverable at the end of the project.What is the operating cash flow of this project for year 1 to year4 at a tax rate of 20 percent?a) $13,992b) $15,100c) $14,154d) $16,440
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