Click to watch the Tell Me More Learning Objective ADM video and then answer the questions below. 1. Free cash flow is calculated as a. cash flows from investing activities plus cash used to purchase property, plant, and equipment. b. cash flows from operating activities less cash used to purchase property, plant, and equipment. c. cash flows from operating activities less cash flow from investing activities less cash flow from financing activities d. cash used to purchase property, plant, and equipment less cash flows from operating activities. 2. Estill Corporation had the following financial data at year-end: $52,500 7,000 Cash flows from operating activities Cash flows from Investing activities Cash flows from financing activities Cash used to purchase property, plant, and equipment Sales 12,000 14,280 550,275 What is Estill Corporation's ratio of free cash flow to sales? a 1.0% b. 6.0% C 6.9% d. 9.29