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Question Champagne, Inc., had revenues of $12 million, cash operating expenses of $8 million, and depreciation and amortization of $1.5 million during 2008. The firm purchased $700,000 of equipment during the year while increasing its inventory by $500,000 (with no corresponding increase in current liabilities). The marginal tax rate for Champagne is 30 percent. Free cash flow:What are Champagne’s cash flows associated with investments for 2008?

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Question

Champagne, Inc., had revenues of $12 million, cash operating expenses of $8 million, and depreciation and

amortization of $1.5 million during 2008. The firm purchased $700,000 of equipment during the year while increasing its inventory by $500,000 (with no corresponding increase in current liabilities). The marginal tax rate for Champagne is 30 percent.

Free cash flow:What are Champagne’s cash flows associated with investments for 2008?

 
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