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A firm has net sales of $1,000,000. The cost of goods sold is $450,000 and administrative expenses are $56,000. The income statement shows depreciation of $40,000, interest expense of $19,000 and taxes payable $130,500. The firm recorded an increase in its net working capital during the year of $39,000. Ignoring accumulated depreciation, long-term asset values increased during the year by $120,000. What is the firm's cash flow to investors?

Financial Management, Finance

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