D is corrent because economic value-added is equal to net operating profit after taxes minus the cost of capital.
A is incorrect because free cash flow is equal to net operating profit after taxes plus noncash expenses less capital expenditures and the change in working capital requirements.
B is incorrect because market value-added is equal to the market value of the firm minus the original investment.
C is incorrect because net operating capital is not a term typically used in business.
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