1. All of the following are true about static budgets, EXCEPT they:
A. are based on a single level of operations.
B. will not show change during the budget period.
C. are based on multiple levels of operations.
D. may be used to plan.
2. Cellular Access? Inc., is a cellular telephone service provider that reported net operating profit after tax? (NOPAT) of $ 255 million for the most recent fiscal year. The firm had depreciation expenses of $ 111 ?million, capital expenditures of $ 175 ?million, and no interest expenses. Working capital increased by $13 million.
Calculate the free cash flow f or Cellular Access for the most recent fiscal year.
The free cash flow is ?$_million. ? (Round to the nearest? integer.)