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Year 1 Revenues 125 COGS 25 Operating expenses (other than depreciation) 40 Depreciation 30 Increase in net working capital 2 Capital Expenditures 30 Marginal Corporate

Year 1

Revenues

125
COGS 25
Operating expenses (other than depreciation) 40
Depreciation 30
Increase in net working capital 2
Capital Expenditures 30
Marginal Corporate tax rate: 20%

What is the free cash flow for this project in Year 1?

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