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Global Actions, Inc. had pre-tax income of $50 million this year. Last year was not a good year and it had an operating loss of $30 million. Calculate Global's federal income tax payment for the current year. Recall that due to the Tax Cuts and Jobs Act, prior years' cumulative operating losses may be used to offset up to 80% of the current year's taxable income. The federal tax rate is 21%. $3.99 0 $4.41 $4.20 O $4.63 Wells Water Systems recently reported $8,250 of sales, $4,500 of operating costs other than depreciation, and $950 of depreciation. The company had no amortization charges, it had $3,250 of outstanding bonds that carry a 6.75% interest rate, and its federal-plus-state income tax rate was 25%. In order to sustain its operations and thus generate sales and cash flows in the future, the firm was required to spend $750 to buy new fixed assets and to invest $250 in net operating working capital. How much free cash flow did Wells generate? $2,373.13 O $2,152.50 O $2,050.00 O $2,260.13