Earnings before interests and taxes: EBIT in 2020 = 400
Tax rate: T = 25%
Accumulated depreciation in balance sheet of 2019 = 50
Accumulated depreciation in balance sheet of 2020 = 60
Net Fixed Assets in 2019 = 1,200
Net Fixed Assets in 2020 = 1,600
Other Long-Term assets in 2019 = 0
Other Long-Term assets in 2020 = 0
Net operating working capital (NOWC) in 2019 = 20
Current assets in balance sheet of 2020 = 30
Current liabilities in balance sheet of 2020 = 20
1. What is the Net Cash Flow (NFC) for 2020?

2. What is the Investment in Gross Fixed Assets for 2020?

3. What is the investment in net operating working capital (Investment NOWC) for 2020?

4. What is the Free Cash Flow (FCF) for 2020?