ax rate is $25\%.$ Last year $($end$)$ net operating asset in the firm was $10000$ crores. Reinvestment

ate in the company is $60\%$ of operating income. Also, the Balance sheet shows that last year

lebt in the company was $800$ crore and this year an increase of $100$ crore in debt.

a$)$ What is FCFF

b$)$ What is FCFE

c$)$ What is reinvestment rate for firm

d$)$ What will be net operating assets for this year end