A firm had after-tax income last year of $1.2 million. Its depreciation expenses were $.4 million, and

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A firm had after-tax income last year of $1.2 million. Its depreciation expenses were $.4 million, and its total cash flow was $1.2 million. What happened to net working capital during the year?
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Fundamentals of Corporate Finance

ISBN: 978-1259024962

6th Canadian edition

Authors: Richard Brealey, Stewart Myers, Alan Marcus, Devashis Mitra, Elizabeth Maynes, William Lim

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