Calculate the free cash flow generated

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Reference no: EM131216837

Ajax Ltd reported Net Income of $435m in 2013, after providing for $186m in tax at a rate of 30%. Interest Expense was $56m and Depreciation was $32m. The increase in working capital required to generate that Net Income in 2013 was $23m and the firm also invested $53m in new property, plant and equipment during the year.

Calculate the free cash flow generated by Ajax Ltd in 2013.

Reference no: EM131216837

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