QUESTION 10 Which of the following statements about free cash flows (FCFS) are TRUE (select all correct answers): FCFs are used to calculate the value of a firm's investment. When using Net Income to derive FCFs, you must add back all of the firm's interest expense because the FCF specifically measures the cash flows generated from the firm's investment activities FCFs are a pre-debt cash flow When using EBIT or Net Income to derive FCFs, you need to add back all of the depreciation expense since only the tax shield is a cash flow. OFCFs are a pre-tax cash flow