QUESTION 24 Vulture Oil recently reported (in millions) $8,250 of sales, $5,750 of operating costs other than depreciation, and $650 of depreciation. The company had $3,200 of outstanding bonds that carry a 5% interest rate, and its federal-plus-state income tax rate was 35%. In order to sustain its operations and thus generate future sales and cash flows, the firm was required to make $1,250 of capital expenditures on new fixed assets and to invest $300 in net operating working capital. By how much did the firm's net income exceed its free cash flow? O a. $718 O b. $756 O $796 O d.$836 O e. $878 QUESTION 25 White Hills Company recently reported $185,250 of sales, $140,500 of operating costs other than depreciation, and 59,250 of depreciation. The company had $35,250 of outstanding bonds that carry a 6.75% interest rate, and its federal-plus-state income tax rate was 35%. In order to sustain its operations and thus generate future sales and cash flows, the firm was required to spend $15.250 to buy new fixed assets and to invest 56,850 in net operating working capital. What was the firm's free cash flow? a $10,225 o b.10.736 OC. $11,273 d. 511 831 e. Si 429 and somit Chek Sumates