Casablanca Inc. recently reported operating income of $6,450,00, depreciation of $1,700,000, and had a tax rate...
Casablanca Inc. recently reported operating income of $6,450,00, depreciation of $1,700,000, and had a tax rate of 21%. The firm's expenditures on fixed assets and net operating working capital totaled $750,000. How much was its free cash flow?
Homework Answers
Free cash flow = Operating Income(1 – tax rate) + Depreciation - NWC
Free cash flow = $6,450,000(1 - 0.21) + $1,700,000 - $750,000
Free cash flow = $6,045,500
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