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Free Cash Flow
Iron Ore Corp. reported free cash flows for 2008 of $91 million and investment in operating capital of $199 million. Iron Ore listed $49 million in depreciation expense and $41 million in taxes on its 2008 income statement. What was Iron Ore's 2008 EBIT?
a. $290 million
b. $282 million
c. $380 million
d. $140 million
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