b. Calculate free cash flow for each projected year. Also calculate the growth rates of free cash flow each year to ensure that there is constant growth (i.e., the same as the constant growth rate in sales) by the end of the forecast period.
							Actual	Projected	Projected	Projected	Projected
						Calculation of FCF	12/31/16	12/31/17	12/31/18	12/31/19	12/31/20
Operating current assets	$248.0	$285.2	$313.7	$332.5	$352.5
Operating current liabilities	$56.0	$64.4	$70.8	$75.1	$79.6
Net operating working capital	$192.0	$220.8	$242.9	$257.5	$272.9
Net PPE	$600.0	$690.0	$759.0	$804.5	$852.8
Total net operating capital	$792.0	$910.8	$1,001.9	$1,062.0	$1,125.7
NOPAT
Investment in total net operating capital	na
Free cash flow	na
Growth in FCF	na	na
Growth in sales		15.0%	10.0%	6.0%	6.0%