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Problem 2-22 (Static) Free cash flow [LO2-4] Nova Electrics anticipates cash flow from operating activities of $13 million in 20X1. It will need to

Problem 2-22 (Static) Free cash flow [LO2-4] Nova Electrics anticipates cash flow from operating activities of $13 million in 20X1. It will need to spend $8.5 million on capital investments to remain competitive within the industry. Common stock dividends are projected at $1.1 million and preferred stock dividends at $1.3 million. a. What is the firm's projected free cash flow for the year 20X1? Note: Enter your answer in millions of dollars rounded to 2 decimal places. Free cash flow million

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