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Butterfly Tractors had $22.50 million in sales last year. Cost of goods sold was $9.70 million, depreciation expense was $3.70 million, interest payment on outstanding

Butterfly Tractors had $22.50 million in sales last year. Cost of goods sold was $9.70 million, depreciation expense was $3.70 million, interest payment on outstanding debt was $2.70 million, and the firms tax rate was 21%

a. What was the firms net income? (Enter your answers in millions rounded to 2 decimal places.)

b. What was the firms cash flow? (Enter your answers in millions rounded to 2 decimal places.)

c. What would happen to net income and cash flow if depreciation were increased by $2.70 million? (Enter your numeric answers in millions rounded to 2 decimal places. Select "unaffected" if the results do not affect the balance.)

f. What would be the impact on cash flow if depreciation was $2.70 million and interest expense was $3.70 million? (Enter your numeric answer in millions rounded to 2 decimal places. Select "unaffected" if the results do not affect the balance.)

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a. Net income million million million b. Net cash flow C. Net income would be Cash flow would be f. Cash flow would be by by million by million

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