On the FCF/DCF sheet, what does unlevered mean (in reference to the FCF)?

Group of answer choices

It means that the FCF does not include current cash, which is why we later add the cash balance

It means that the FCF does not account for the level of the firms debt or interest payments, which is why we later subtract the book value of the firms debt

It means that the FCF is not available to be paid to investors

It means that the FCF cannot apply leverage to get what it wants