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Which of the following statements is not true, when describing the concept of free cash-flow? Free cash-flow is the cash that is available after... A.

Which of the following statements is not true, when describing the concept of free cash-flow?

"Free cash-flow is the cash that is available after...

A. Paying variable costs

B. Paying fixed costs

C. Paying taxes

D. Investing in corporate projects

E. Paying a dividend to stock holders

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