Summary financial information for Klinger Corporation for the year ended July 1,

2021 is listed below:

Profit

$ 300,000

Depreciation expense

34,000

Beginning inventory

100,000

Ending inventory

70,000

Cost of goods sold

50,000

Interest expense

135,000

Income tax expense

77,000

Operating profit

450,000

Cash provided by operating activities

350,000

Dividends paid

50,000

Cash used by investing activities

122,000

Klingers free cash flow for 2021 is:

a) $ 128,000.

b) $ 228,000.

c) $ 178,000.

d) $ 546,000.