8. In 2019, Fragile Express Delivery spent $28.9 million on capital expenditures, experienced a decrease in net working capital (including cash) equal to $72.8 million, and realized $26 million in depreciation. What is Fragile Express Delivery's unlevered free cash flow for 2019? 526.65 329.05 438.85 381.05 9. What does a negative value for unlevered free cash flow imply for the claimants of a firm? The firm is over-investing Shareholders have made a bad investment The firm must raise capital from the capital markets (e.g., debt, equity), or liquidate internal assets (e.g., cash) Revenues are less than costs Management is doing a bad job