Convenience Travel Corp.'s financial information for the year ended December 31, 20X4 included the following: Property Plant & Equipment $15,000,000 Accumulated Depreciation The only asset owned by Convenience Travel in 20X5 was a corporate jet airplane. The airplane was being depreciated over a 15 year period on a straight-line basis at a rate of $1,000,000 per year. On December 31, 20X5 Convenience Travel sold the airplane for $10,000,000 cash. Net income for the year ended December 31, 20X5 was $12,000,000. Based on the above information, and ignoring taxes, what is cash flow from operations (CFO) for Convenience Travel for the year ended December 31, 20X5? 

Answer rating: 100% (QA)

To calculate the cash flow from operations CFO for Convenience Travel for the year ended December 31 ... View the full answer