In 2016, Jeremy's Maple Syrup (JMS) Conglomerate had Net Income of $350,000 and cash provided by operating activities of $250,000, including a S 12,000 net cash outflow for interest payments. In order to maintain this production capability, JMS invested $60,000 in equipment. In addition, JMS paid $7,500 cash dividends and issued a $4,000 stock dividend. Finally, JMS decided to have incur to increase average inventory on hand by $50,000. What is JMS's Free Cash Flow for 2016?