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Dell Calculator Corporation had sales last year of $10 million, cost of goods sold of $5...

Dell Calculator Corporation had sales last year of $10 million, cost of goods sold of $5 million, depreciation of $1 million and interest paid of $1 million. At the beginning of the year, the company's net working capital was $400,000 and the company's net fixed assets were $58 million. At the end of the year, the company's net working capital was $500,000 and the company's net fixed assets were $60 million. The corporate taxation rate is 30%. What was the company's free cash flow last year?

Select one:

a. $2 million

b. $500,000

c. - $500,000

d. $1 million

e. $4 million

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