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Assuming zero excess cash, which of the following can be used to calculate residual cash flows: 1. Net Income + Depreciation - CAPEX - Change

Assuming zero excess cash, which of the following can be used to calculate residual cash flows: 1. Net Income + Depreciation - CAPEX - Change in Net Working Capital - Principal Repayments + New Debt II. FCF Interest - Principal Repayments + New Debt III. FCF-(1-t). Interest - Principal Repayments + New Debt Ill only I and III I and II II only I only
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Assuming zero excess cash, which of the following can be used to calculate residual cash flows: 1. Net Income + Depreciation - CAPEX - Change in Net Working Capital - Principal Repayments + New Debt II. FCF - Interest - Principal Repayments + New Debt III. FCF - (1-t). Interest - Principal Repayments + New Debt iil only I and III land II II only I only

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