Jack 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 3 cash flow? Show work.

Equipment cost (depreciable basis)       $95,000

Sales revenues, each year                      $65,000

Operating costs (excl. deprec.)              $25,000

Tax rate                                                40.0%