Suppose an apparel company generated a Net Income of $$45$ million in the most recent reporting

year. The firm$$s Earnings Before Interest Taxes and Depreciation $($EBITDA or EBDIT$)$ equaled

$$130$ million, and the Net Operating Profit $($EBIT$)$ was $$100$ million. If we know that the firm$$s

marginal tax rate equaled $40\%,$ that the firm$$s accounts receivables increased by $$40$ million and

the inventory decreased by $$10$ million, and that the firm$$s accounts payables increased by $$15$

million and its short$-$term bank line of credit increased by $$10$ million as well, and if the firm

furthermore invested $$50$ million in long$-$term operating assets in the past year, what is the firm$$s

Free Cash Flow over this period? Show your calculations using both the bottom$-$up and the topdown

approach.