A version of Free cash flow to equity (FCFE) that assumes a constant debt to capital ratio is defined as _______.

net income - (capital expenditures - non cash charges) - increases in non-cash working capital + net debt issuance

net income- (capital expenditures - non cash charges) - increases in non-cash working capital - net debt issuance

(earnings before interest and taxes)*(1-t)- (capital expenditures - non cash charges) - increases in non-cash working capital

net income - [(capital expenditures - non cash charges) * (equity / capital)]- [increases in non-cash working capital * (equity / capital)]

None of the other answers is correct