Wells Water Company recently reported $8250 of sales, $4500 of operating costs other than depreciation, and &950 of depreciation. The company had no amortization charges. It has $3250 of outstanding bods that carry a 6.75% interest rate, and its federal-plus-state income tax rate was 35%. In order to sustain its operations, the firm was required to spend $750 to buy new fixed assets and to invest $250 in net operating working capital. How much free cash flow did Wells generate?

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