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A firm has an EBIT of 62,000 and depreciation of 12,000. The net working capital last year was 22,000, and this year it is 27,000.

A firm has an EBIT of 62,000 and depreciation of 12,000. The net working capital last year was 22,000, and this year it is 27,000. The firm also has 57,000 in capital expenditures this year. If the tax rate is 32%, what is the free cash flow to the firm? (Answer to the nearest whole number, i.e. 12,345).

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