A firm's net Free Cash Flow or Cash Flow From Assets is calculated as:

Multiple Choice

a. EBIT * (1-tax%) - Depreciation + change in NWC - Net Capital Spending

b. EBITDA + Depreciation + Capital spending Increases in net working capital.

c. Operating Cash Flow - Interest Expense on Debt - change in NWC - Net Capital Spending

d. EBIT * (1-tax%) + Depreciation - change in NWC - Net Capital Spending

e. EBITDA - Taxes + Depreciation Capital spending + Increases in net working capital.