Question 35 1 pts Champagne, Inc., had revenues of $12 million, cash operating expenses of $8 million, and depreciation and amortization of $15 million during 2008. The firm purchased $700,000 of equipment during the year while increasing its inventory by $500.000 (with no corresponding increase in current liabilities). The marginal tax rate for Champagne is 30 percent. What is Champagne's cash flow from operations for 2008? $3,250,000 $4,000,000 $2.050.000 $2,500,000 Question 36 1 pts Beckham Corporation has semiannual bonds outstanding with nine years to maturity that are currently priced at $794.08.If the bonds have a coupon rate of 7.25 percent, then what is the after-tax cost of debt for Beckham if its marginal tax rate is 35 percent? Complete the calculation using the effective annual yield (EAY) for the bond. 7.277% 12.095% 11.750% 7.084%