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Net income = $ 8 8 0 , 0 0 0 Cost of goods sold = $ 6 0 0 , 0 0 0 Depreciation

Net income = $880,000
Cost of goods sold = $600,000
Depreciation expense = $49,000
Interest expense = $27,000
Investment in fixed assets = $32,000
Investment in working capital = $13,000
Funds borrowed = $16,000
Debt repaid = $10,000
Marginal tax rate =40%
Free cash flow to equity is closest to:
Group of answer choices
$916,000
$890,000
$911,000

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