Convenience Travel Corp.'s financial information for the year ended December 31, 2004 included the following:
| Property Plant & Equipment | $ 15000000 |
| Accumulated Depreciation | $ 9000000 |
The only asset owned by Convenience Travel in 2005 was a corporate jet airplane. The airplane was being depreciated over a 15-year period on a straight-line basis at a rate of $1000000 per year.
On December 31, 2005 Convenience Travel sold the airplane for $10000000 cash. Net income for the year ended December 31, 2005 was $12000000.
Based on the above information, and ignoring taxes, what is cash flow from operations (CFO) for Convenience Travel for the year ended December 31, 2005?( )。
Using the indirect method, CFO is net income increased by 2005 depreciation ($1000000) and decreased by the gain recognized on the sale of the plane [$10000000 sale price-($15000000 original cost-$10000000 accumulated depreciation including 2005)=$5000000].
$12000000+$1000000-$5000000=$8000000.