Your boss comes into your office, drops a consultant's report on your desk, and complains, "We owe these consultants $1.3 million for this report, and I am not sure their analysis makes sense. Before we spend the $20 million on new equipment needed for this project, look it over and give me your opinion." You open the report and find the following estimates (in millions of dollars):

What are the free cash flows in years 0 through 10?

1 9 Sales revenue Cost of goods sold = Gross profit - General, sales, and administrative expenses - Depreciation = Net operating income - Income tax = Net income 25.000 15.000 10.000 1.600 2.000 6.400 2.24 4.160 2 25.000 15.000 10.000 1.600 2.000 6.400 2.24 4.160 25.000 15.000 10.000 1.600 2.000 6.400 2.24 4.160 10 25.000 15.000 10.000 1.600 2.000 6.400 2.24 4.160