PepsiCo recently reported $512,500 of sales, $358,750 of operating costs other than depreciation, and $14,034 of depreciation. The company had no amortization charges, its interest expense was $16,472, and its federal-plus-state income tax rate was 25%. To sustain its operations and thus generate sales and cash flows in the future, the firm was required to make $25,344 of capital expenditures on new fixed assets and to invest $7,410 in net operating working capital. What is the firms free cash flow?

a. $ 79,443

b. $ 86,067

c. $ 97,377

d. $104,787

e. $118,821