Question: E10.5. Free Cash Flow for a Net Debtor (Easy) The following information is for a firm that has net debt on its balance sheet (in

E10.5. Free Cash Flow for a Net Debtor (Easy) The following information is for a firm that has net debt on its balance sheet (in millions of dollars). Common shareholders' equity, December 31, 2007 Common dividends, paid December 2008 Common shareholders' equity, December 31, 2008 sue of common shares, December 2008 Net debt, December 31, 2007 Net debt, December 31, 2008 174.8 8.3 34.4 226.2 54.3 37.4 There were no share repurchases during 2008. The firm reported net interest after tax of $4 million on its income statement for 2008, and this interest was paid in cash. Calculate the firm's free cash flow for 2008.

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