Please sovle and explain what formulas where used at each step! Thank you in advance! -E

FCF example Shrives Publishing recently reported $24,500 of sales, $6,500 of operating costs other than depreciation, and $1,350 of depreciation. The company had $3,500 of bonds that carry a 6.25% interest rate, and its federal-plus-state income tax rate was 40%. During the year, the firm had expenditures on fixed assets and net operating working capital that totaled $2,850. These expenditures were necessary for it to sustain operations and generate future sales and cash flows. What was its free cash flow