Homework Answers
Catering's 2008 EBIT
Free Cash Flow = $8.11 million
Investment in Operating Capital = $2.11 million
Depreciation = $0.98 million
Taxes = $2.11 million
Now, we need to calculate EBIT from Free Cash Flow by using the following formula:
EBIT = Free Cash Flow + Taxes - Depreciation + Increase in Operating Capital
EBIT = ($8.11 + $2.11 - $0.98 + $2.11) million
EBIT = $11.35 million
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