问题如下图：
选项：
A. 
B. 
C. 
解释：
为啥不能用FCFF=EBIT*(1-T)+DEP-WC-FC,我理解这里的operating income就是EBIT
NO.PZ201512300100001003问题如下3. Holt’s FCFF (in millions) for 2008 is closest to:A.$308.B.$370.C.$422.A is correct.FCFF = NI + N+ Interest expense (1- Trate) - FCInv - WCInv. In this case:NI = $485 millionN= preciation expense = $270 millionInterest expense (1- Trate) = 195 (1- 0.32) = $132.6 millionFCInv = Net purchase of fixeassets = Increase in gross fixeassets= 4,275 - 3,752 = $523 millionWCInv = Increase in accounts receivable + Increase in inventory Increase in accounts payable Increase in accrueliabilities= (770 - 711) + (846- 780) - (476- 443) - (149 - 114)= $57 millionFCFF = 485 + 270 + 132.6 - 523 - 57 = 307.6, or $308 million老师，请问 operating income与EBIT有啥区别？为啥不能用EBIT那条公式求FCFF？
NO.PZ201512300100001003 课上讲了好多 关于net PPE 一般什么情况用到Net PPE ？ 是去推gross PPE 吗
NO.PZ201512300100001003 WcInv为什么不能直接用WC(t)-WC(t-1)得出？
NO.PZ201512300100001003 Note payable没有加在working capit里，是什么原因？ 谢谢
NO.PZ201512300100001003 $370. $422. A is correct. FCFF = NI + N+ Interest expense (1- Trate) - FCInv - WCInv. In this case: NI = $485 million N= preciation expense = $270 million Interest expense (1- Trate) = 195 (1- 0.32) = $132.6 million FCInv = Net purchase of fixeassets = Increase in gross fixeassets = 4,275 - 3,752 = $523 million WCInv = Increase in accounts receivable + Increase in inventory Increase in accounts payable Increase in accrueliabilities = (770 - 711) + (846- 780) - (476- 443) - (149 - 114) = $57 million FCFF = 485 + 270 + 132.6 - 523 - 57 = 307.6, or $308 million题目中有长短期负债的变更 应该加上这一项？
