Nova Electrics anticipated cash flow from operating activities of $8 million in 2011. It will need to spend $5.5 million on capital investments in order to remain competitive within the industry. Common stock dividends are projected at $.60 million and preferred stock dividends at $.40 million. What is the firm's projected free cash flow for the year 2011? (Enter your answer in millions of dollars rounded to 2 decimal places.) What does the concept of free cash flow represent? Free cash flow represents the funds that are available for special financing activities, such as a leveraged buyout. Free cash flow equals cash flow from operating activities. Free cash flow represents the funds that are available for investing activities, such as purchasing plant and equipment assets