Arizona State University FIN FIN 40628 Cactus, Inc., had revenues of $81 million, cash operating expenses…

Arizona State University FIN FIN 40628 Cactus, Inc., had revenues of $81 million, cash operating expenses…

Cactus, Inc., had revenues of $81 million, cash operating expenses of $25 million, and non-cash depreciation expense of $18 million during the year. Also during the same year, the firm purchased $16 million of additional equipment during the year while increasing its working capital investment by $12 million. The tax rate for Cactus is 25%. What is Cactus’ free cash flow for the year?

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