It needs to spend 12 million on new fixed assets and a, Financial Management

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It needs to spend 12 million on new fixed assets and a

MKT Advertising Agency reported $13.5 million of operating income for the year, depreciation of $500,000, and a 40% tax rate. It needs to spend $1.2 million on new fixed assets and a change in NOWC of $6.5 million. What is its free cash flow? $1.9 million $1.2 million $1.1 million $0.7 million $0.9 million

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