Pure Water Systems recently reported $9.0 million of sales, 4.5 million of operating costs other than depreciation, and $900,000 of depreciation. The company had no amortization charges, it had $3.5 million of outstanding bonds that carry an 8.00% interest rate, and its federal-plus-state income tax rate was 25%. In order to sustain its operations and thus generate sales and cash flows in the future, the firm was required to spend $800,000 to buy new fixed assets and to invest $200,000 in net operating working capital. How much free cash flow did Pure Water generate? $2,600,000 $3.575.000 $3,250,000 $2,925,000