Calculate a firm's free cash flow if it has net operating profit after taxes of 60,000, depreciation expense of 10,000, net fixed asset investment requirement of 40,000, a net current asset requirement of 30,000 and a tax rate of 30.
A) 0
B) 30,000
C) -30,000
D) 60,000
Question 2
Which of the following is true of par value of a common stock?
A) It is determined on the basis of the stock's market value.
B) It is an arbitrary value established for legal purposes in a firm's corporate charter.
C) It indicates the market value at which the stock was originally sold.
D) It allows stockholders to purchase additional shares at a price below the market price.
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