Last year Cole Furnaces had $4 million in operating income (EBIT). The company had a net depreciation expense of $1 million and an interest expense of $1 million; its com-bined federal and state corporate tax rate is 25%. The company has $14 million in operat-ing current assets and $4 million in operating current liabilities; it has $15 million in net plant and equipment. It estimates that it has an after-tax cost of capital of 10%. Assume that Coles only noncash item was depreciation.

a. What was the companys net income for the year?

b. What was the companys net cash flow?

c. What was the companys net operating profit after taxes (NOPAT)?

d. Calculate net operating working capital and total net operating capital for the current year