关于这个note payable，到底要不要算进net borrowing里面？

问题如下：

Cuyahoga River Navigators, Inc. (CRN), based in Cleveland, Ohio, has a fleet of 30 watercraft consisting of riverboats, yachts, barges, and ships navigating the Cuyahoga River and Lake Erie. Amit Jatin, a senior equity analyst at Cleveland Investment Research, asks Alahtab to evaluate CRN and prepare a research report for updating the firm’s recommendation about the stock. He gives Alahtab CRN’s financial data, which are shown in Exhibits 1.

Exhibit 1 Income Statement Excerpts& Selected Balance Sheet Data, Years Ending 31 December ($millions)

Using the data in Exhibits 1, CRN’s FCFE per share for 2013 is closest to:

选项：

A.

$0.85

B.

$0.82

C.

$0.92

解释：

FCFF = EBITDA(1 – Tax rate) + Depreciation(Tax rate) – FCInv – WCInv

FCFE = FCFF – Interest(1 – Tax rate) + Net borrowing