10. Evaluating free cash flows and return on invested capital You're an industry analyst for the telecom sector, and have been analyzing financial reports from two companies: TT\&T Inc. and Phonez Corp. The corporate tax rate for both firms is 35%. Your associate analyst has calculated and compiled, in the following table, a list of important figures you 11 probably need for the analysis: In your analysis, you want to look for several characteristics - one of them being the return on invested capital (RoIC). Using the information avallable, complete the following statements: - The net operating profit after tax (NOPAT) for Tr\&T inc. is whereas the NOPAT for PhoneZ Corp. is - Ti\&T inc. has a free cash flow of whereas, Phonez Corp. has a free cash flow of - TT\&T Inc, has a return on invested capital than Phonez Corp. has. Your inference from the analysis is that both firms are in a high-growth phase, and their growth will be profitable. Considering your analysis, which of the following statements is true? If a company has positive NOPAT but a negative free cash flow, then the firm could be in a high-growth phase and making investments in operating capital to support growth." If a company has negative NOPAT but a positive free cash flow, then the firm could be in a high-arowth phase and making investments in operating capital to support growth