Shrives Publishing recently reported $11,500 of sales, $5,500 of operating costs other than depreciation, and $1,250 of depreciation. The company had $3,500 of bonds that carry a 6.25% interest rate, and its federal-plus-state income tax rate was 25%. During the year, the firm had expenditures on fixed assets and net operating working capital that totaled $1,550. These expenditures were necessary for it to sustain operations and generate future sales and cash flows. What was its free cash flow? (Round your intermediate and final answers to whole dollar amount.)

Group of answer choices

$3,457

$3,263

$3,039

$2,955

$2,593

On 12/31/19, Hite Industries reported retained earnings of $537,500 on its balance sheet, and it reported that it had $135,000 of net income during the year. On its previous balance sheet, at 12/31/18, the company had reported $445,000 of retained earnings. No shares were repurchased during 2019. How much in dividends did the firm pay during 2019?

Group of answer choices

$46,750

$48,450

$44,625

$42,500

$53,125

Rao Construction recently reported $30.00 million of sales, $12.60 million of operating costs other than depreciation, and $3.00 million of depreciation. It had $8.50 million of bonds outstanding that carry a 7.0% interest rate, and its federal-plus-state income tax rate was 25%. What was Rao's operating income, or EBIT, in millions?

Group of answer choices

$14.54

$14.40

$16.70

$11.09

$16.56