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Which of the following statements is CORRECT? Select one: a. Free cash flow (FCF) is defined as follows: FCF EBIT(1OT)+ Depreciation and Amortization + Capital

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Which of the following statements is CORRECT? Select one: a. Free cash flow (FCF) is defined as follows: FCF EBIT(1OT)+ Depreciation and Amortization + Capital expenditures. O b. Net cash flow (NCF) is defined as follows: NCF = Net income-Depreciation and Amortization Oc. Changes in working capital have no effect on free cash flow. d. Free cash flow (FCF) is defined as follows: FCF = EBIT( 1 DT) + Depreciation and Amortization - Capital expenditures required to sustain operations Required changes in net operating working capital. O e. Net cash flow is the same as free cash flow (FCF)

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