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Consider a publicly-traded company that generated $35 million in net income during the course of the most recent year and increased total debt by $20

  1. Consider a publicly-traded company that generated $35 million in net income during the course of the most recent year and increased total debt by $20 million. The firm had capital expenditures of $50 million, depreciation of $10 million and $5 million increase in working capital investments. If the cash balance at the company increased by $3 million during the course of the year, how much cash did the company return to its stockholders?
    1. $5 million
    2. $6 million
    3. $7 million
    4. $8 million
    5. $9 million

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