Based off the data provided below, should we include R&D and Marketing expenses in the calculations of free cash flows? Why, or why not? Please provide an explanation, and also include any calculations if applicable.

New Heritage Doll Company: Capital Budgeting Exhibit 1 Selected Operating Projections for Match My Dofl Clothing Line Expansion New Heritage Doll Company: Capital Budgeting Exhibit 2 Selected Operating Projections for Design Your Own Doll Exhibit 1 Selected Operating Projections for Match My Doll Clothing Line Expansion (\$ in 40% corporate tax rate 8.4% medium risk discount rate Exhibit 2 Selected Operating Projections for Design Your Own Dall \$ $ in thousands) 9.0% high risk discount rate New Heritage Doll Company: Capital Budgeting Exhibit 1 Selected Operating Projections for Match My Dofl Clothing Line Expansion New Heritage Doll Company: Capital Budgeting Exhibit 2 Selected Operating Projections for Design Your Own Doll Exhibit 1 Selected Operating Projections for Match My Doll Clothing Line Expansion (\$ in 40% corporate tax rate 8.4% medium risk discount rate Exhibit 2 Selected Operating Projections for Design Your Own Dall \$ $ in thousands) 9.0% high risk discount rate