Question: Firm GHI had Total Fixed Assets, Current Assets and Current Liabilities for this year and last year as shown below. This year Last year Total

Firm GHI had Total Fixed Assets, Current Assets and Current Liabilities for this year and last year as shown below.

This year Last year

Total Fixed Assets $40,000,000 $35,000,000

Current Assets $10,000,000 $9,000,000

Current Liabilities $6,000,000 $8,000,000

Firm GHI had the following values for EBIT, Taxes and Depreciation for this year.

This year

EBIT $15,000,000

Taxes $5,000,000

Depreciation* $4,000,000

*Assume that Depreciation is a capital expenditure.

Firm GHIs Financial (Free) Cash Flow is:

a.

$11,000,000
b.

$6,000,000
c.

$3,000,000
d.

$14,000,000

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