Question: Shepard Industries is evaluating a proposal to expand its current distribution facilities. Management has projected the project will produce the following cash flows for the

Shepard Industries is evaluating a proposal to expand its current distribution facilities. Management has projected the project will produce the following cash flows for the first two years (in millions). Shepard Industries is evaluating a proposal to expand its current distribution facilities. The free cash flow from Shepard Industries project in year two is closest to:

-$5

$345

$275

$455

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