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Iron Ore Corp. reported free cash flows for 2008 of $91 million and investment in operating capital of $199 million. Iron Ore listed $49 million in depreciation expense and $41 million in taxes on its 2008 income statement. What was Iron Ore's 2008 EBIT

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Tundexi

Answer:

$282 million

Explanation:

Free cash flow = Operating Cash flow - Investment in operating cash flow

91 million = Operating cash flow - 199 million

Thus Operating Cash flow= 91 million + 199 million

Operating Cash flow = 290 million

OCIT= EBIT - Taxes + Depreciation

EBIT= OCIT + Taxes - Depreciation

EBIT= 290 million + 41 million - 49 million

EBIT = $282 million

Iron Ore's 2008 EBIT is $282 million

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