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Full Time Housing Services Incorporated (FTHS) is considering a project that involves setting up a temporary housing facility in an area recently damaged by a

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Full Time Housing Services Incorporated (FTHS) is considering a project that involves setting up a temporary housing facility in an area recently damaged by a hurricane. FTHS will lease space in this facility to various agencies and groups providing relief services to the area. FTHS estimates that this project will initially cost $6 million to set up and will generate $22 million in revenues during its first and only year in operation (paid in one year). Operating expenses are expected to total $11 million during this year and depreciation expense will be another $2 million. FTHS will require no working capital for this investment. FTHS' marginal tax rate is 35%. Ignoring the original investment of $5 million, what is FTHS' free cash flow for the first and only year of operation

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