Gustav Co
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Gustav Co. reported $204400 of sales, $134550 of operating costs other than depreciation, and $8040 of depreciation. The company had $33150 of outstanding bonds that carry a 6.75% interest rate, and its federal-plus-state income tax rate was 0.40 . In order to sustain its operations and thus generate future sales and cash flows, the firm was required to spend $14450 to buy new fixed assets and to invest $6000 in net operating working capital (ΔNOWC). What was the firm's free cash flow?
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