You determined the items below for a company for the most recent year:

EBIT: $500,000

Depreciation: $26,000

Gross investments in fixed assets: $127,000

Investment in net operating working capital (NOWC): $63,000

Interest expense: $43,000

Dividends: $24,000

Tax rate: 15%

Based on the relevant data above, what is the free cash flow (FCF) for the most recent year?

Group of answer choices

a)$261,000

b)$194,000

c)$237,000

d)$218,000