Last year Cole Furnaces had $5,000,000 in operating income (EBIT). The company had a net depreciation expense of $1,000,000 and an interest expense of $1,000,000; its corporate tax rate was 40%. The company has $14,000,000 in operating current assets and $4,000,000 in operating current liabilities; it has $15,000,000 in net plant and equipment. It estimates that it has an after-tax cost of capital of 10%. Assume that Cole’s only noncash item was depreciation.
a. What was the company’s net income for the year?
b. What was the company’s net cash flow?
c. What was the company’s net operating profit after taxes (NOPAT)?
d. Calculate net operating working capital and total net operating capital for the current year.

e. If total net operating capital in the previous year was $24,000,000, what was the company’s free cash flow (FCF) for the year?
f. What was the company’s Economic Value Added (EVA)?