From Corp Fin Capital Budgeting
Annual after-tax operating cash flow:
**Equation (7) ** CF = (S – C – D)(1 – T) + D **Equation (8) ** CF = (S – C)(1 – T) + TD
From Equity FCF
**Equation (12) **
FCFF = EBIT(1 – Tax rate) + Dep – FCInv – WCInv = CF - CFI
**Equation (13) **
FCFF = EBITDA(1 – Tax rate) + Dep(Tax rate) – FCInv – WCInv = CF - CFI
**Equation (8) **
FCFF = CFO + Int(1 – Tax rate) – FCInv
I think I’m not sure what to do from here