Houston Pumps recently reported $185,250 of sales
8. Houston Pumps recently reported $185,250 of sales, $140,500 of operating costs other than depreciation, and $9,250 of depreciation. The company had $35,250 of outstanding bonds that carry a 6.75% interest rate, and its income tax rate was 35%. In order to sustain its operations and thus generate future sales and cash flows, the firm was required to spend $15,250 to buy new capital expenditure and to invest $6,850 in net working capital. What was the firm’s free cash flow?
a. $10,225
b. $10,736
c. $11,273
d. $11,837
e. $12,429
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