Question 1: Analyze the soundness of the decision, given the contribution that late fees made to prior years' results. Does an analysis of the company's cash ows support or refute the company's decision? \"That you need to do is as follows: Get the data from 20022004, which should all be in the 2004 10k, compute what free cash flow would have been without the late fees during 20022004, and project what 2005 free cash ow would be if the no late fee policy stays in place and business doesn't improve. Late fees are referred to by the euphemism \"extended Viewing fees\". Question 2: Is there any evidence that the 2005 results beneted from the nolate fees policy? If so, quantify the specic amount you believe that the basic business improved due to the no late fees. Compare your projected 2005 free cash ow to the actual (from the 2005 1014:). Consider the known reasons that 2005 results differed from the nolate expectation from question 1: i) there were some large fees actually collected, ii) interest costs were higher than expected, iii) Capex was way lower than any reasonable expectation, and iv) a lot of cash went into working paper to replace the trade credit that was withdrawn. Use these four 'known unexpecteds' to form an adjusted expectation for 2005, and then compare that number to the actual