Fool Proof Software is considering a new project whose data are shown below. The equipment that would be used has a 3-year tax life, and the allowed depreciation rates for such property are 33%, 45%, 15%, and 7% for Years 1 through 4. Revenues and other operating costs are expected to be constant over the project's 10-year expected life. What is the Year 1 cash flow?Equipment cost (depreciable basis) $65,000Sales revenues, each year $60,000Operating costs (excl. depreciation) $25,000Tax rate 35.0%a. $30,258b. $31,770c. $33,359d. $35,027e. $36,778