Free Cash Flow Catering Corp. reported free cash flows for 2008 of $8 million and investment in operating capital of $2 million. Catering listed $1 million in depreciation expense and $2 million in taxes on its 2008 income statement. What was Catering's 2008 EBIT?
A) $7 million
B) $10 million
C) $11 million
D) $13 million
Correct Answer:
Verified
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