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20. MIMI Truck is a full-service truck leasing, maintenance, and rental firm with operations in North America and Europe. The following are selected numbers from

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20. MIMI Truck is a full-service truck leasing, maintenance, and rental firm with operations in North America and Europe. The following are selected numbers from the financial statements for 2018 and 2019 (in millions). 2018 2019 Revenues $5,192.0 $5,400.0 (Less) Operating Expenses ($3,678.5) ($3848.0) (Less) Depreciation ($573.5) ($580.0) = EBIT $940.0 $972.0 ($170.0) R (Less) Interest Expenses (Less) Taxes ($172.0) ($670,0) ($652.1) = Net Income $117.9 $130.0 Working Capital $92.0 -$370.0 Total Debt $2,000 mil $2,200 mil The firm had capital expenditures of $800 million in 2018 and $850 million in 2019. The working capital in 2017 was $34.8 million, and the total debt outstanding in 2017 was $1.75 billion. There were 77 million shares outstanding, trading at S29 per share. Estimate the cash flows to the firm in 2018 and 2019. a) -250 (in 2018) and $350 (in 2019) b) -140 (in 2018) and $350 (in 2019) C) -168 (in 2018) and -$260 (in 2019) d) -150 (in 2018) and $180 (in 2019)

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