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Etobicoke Enterprises is deciding whether to expand its production facilities. Although long-term cash flows are difficult to estimate, management has projected the following cash flows

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Etobicoke Enterprises is deciding whether to expand its production facilities. Although long-term cash flows are difficult to estimate, management has projected the following cash flows for the year (in millions of dollars): Revenues of $127.6, Operating expenses (other than depreciation) of $32.7, CCA of $27.2, Increase in NWC of $2.6, Capex of $28.2, and marginal tax rate of 35%. What is the free cash flow in millions of dollars for the year? $12.5 $40.4 $34.6 $97.2 $31.5

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