Watson oil recently reported (in millions) $8,250 of sales, $5,750 of operating costs other than depreciation, and $1,275 of depreciation. the company had $3,200 of outstanding bonds that carry a 5% interest rate, and its federal-plus-state income tax rate was 25%. in order to sustain its operations and thus generate future sales and cash flows, the firm was required to make $1,250 of capital expenditures on new fixed assets and to invest $300 in net operating working capital. by how much did the firm's net income exceed its free cash flow? do not round the intermediate calculations. a. $155 b. $263 c. $308 d. $284 e. $381

Adog whistle manufacturer's factory was located near a residential area. the manufacturer used the most effective methods for testing its whistles, but it was impossible to completely soundproof the testing area. a breeder of champion show dogs bought some property near the factory and raised and trained her dogs there. although the whistles were too high-pitched to be perceived by human ears, they could be heard by the breeder's dogs. consequently, the dogs often were in a constant state of agitation. in a suit by the breeder against the manufacturer, what is the likely outcome? response - correct a the breeder will prevail on a trespass theory, because the sound waves are entering onto the breeder's property. b the breeder will prevail on a nuisance theory, because the sound of the whistles is a substantial interference with the breeder's use of her land. c the breeder will not prevail, because the sound of the whistles is not a substantial interference with the breeder's use of her land. d the breeder will not prevail, because the manufacturer has acted reasonably in testing its whistles.