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The following information is available regarding the FIN340 Company's most recent results during the 2022 fiscal year. From the income statement, you see that FIN340
The following information is available regarding the FIN340 Company's most recent results during the 2022 fiscal year.
From the income statement, you see that FIN340 Co. generated EBIT of $10 million, paid taxes of $2 million, and its depreciation expense was $1 million. FIN340 Co.'s gross fixed assets increased by $4 million during the year. The firm's current assets increased by $2 million and spontaneous current liabilities increased by $3 million.
Calculate FIN340 Co.'s Free Cash Flow for the 2022 fiscal year:
A.$22 million B.($2) million C.$6 million D.$10 million E.$12 million F.$4 million G.$0 millionStep by Step Solution
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