Firms expenditures on fixed assets

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Reference no: EM131010296

Lowell Inc. had an operating income of $2. 6 5 million, depreciation of $1. 3 0 million, and had a tax rate of 40%. The firm's expenditures on fixed assets were $0.4 and its exp enditure to increase net operating working capital was $0. 2 million. How much was its free cash flow, in millions? a. $1 .93 b. $2.03 c. $2.14 d. $2.2 9 e. $2 .36

Reference no: EM131010296

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