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Applying the Treasurer's Rule a . A firm generated free cash flow of $ 2 , 3 4 8 million and paid net interest of

Applying the Treasurer's Rule

.

A firm generated free cash flow of $

2, 348

million and paid net interest of $

23

million after tax. It paid a dividend of $

14

million and no share repurchases. What did the treasurer do with the remaining cash flow and for how much?

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