Phone home inc is considering a new 4-year expansion project that requires an initial fixed asset investment of $3 million. The fixed asset will be depreciated straight line to zero over its 4-year life, after which time it will have a market value of $225,000. The project requires an initial investment in net working capital of $330,000, all of which will be recovered at the end of the project. The project is estimated to generate $2,640,000 in annual sales with costs of $1,056,000. The tax rate is 33% and the required return for the project is 15%. What is the annual operating cash flow for this project?