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9. Newell Stores is a retail firm that reported $1 billion in revenues, $80 million in after-tax operating income, and in noncash working capital of

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9. Newell Stores is a retail firm that reported $1 billion in revenues, $80 million in after-tax operating income, and in noncash working capital of -50 million last year. a. Assuming that working capital as a percent of revenues and after-tax operating income remains unchanged next year and that there are no net capital expenditures, estimate the free cash flow to the firm if revenues are expected to grow 10%. b. If your are projecting free cash flows to the firm for the next 10 years, would you make the same assumptions about working capital? 'Why or Why not

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