The following information is available for Armstrong Enterprises for 2012:Net operating profit (income) after taxes | $36,000,000 | Depreciation expense | 15,000,000 | Change in net working capital | 10,000,000 | Capital expenditures | 12,000,000 | Invested capital (total assets – current liabilities) | 100,000,000 | Weighted-average cost of capital | 10% |
What is the free cash fl ow for 2012?
A. $36,000,000 B. $30,000,000 C. $29,000,000 D. $26,000,000 |
