The financial staff of Cairn Communications has identified the following information for the first year of the roll-out of its new proposed service:
Proiected sales
$22 million
Operating costs (not including depreciation)
$7 million
Depreciation
$6 million
Interest expense
$4 million
The company faces a 25% tax rate. What is the project's operating cash flow for the first year (t = 1)? Enter your answer in dollars. For example, an answer
of $1.2 million should be entered as $1,200,000. Round your answer to the nearest dollar.