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3. Bates Motors has the following information for the previous year: Net income - $200; Net operating profit after taxes (NOP
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Answer #1

Increase in net operating capital =900-800 =100
Increase in fixed assets =1300-1000 =300
Free Cash flow for the year =NOPAT-Increase in net operating capital-Increase in fixed assets =400-100-300 =0

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