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Free Cash Flow (FCF) for each year is defined as (the year index "I" is omitted): | |||||||||||
with the following breakdown: | |||||||||||
OCF = Net Income = EBT * ( 1 − IncomeTaxRate) | |||||||||||
Sales = q1 · Priceincome | |||||||||||
Priceincome = Taxmining · Pricemarket | |||||||||||
COGS = mF↑ · CF↑ + qO↑ · CO + qG↑ · CG↑ + qW↑ · CW + qW↓ · CW↓ | |||||||||||
\mbox{q}_{L,i}^{\uparrow}\ \cdot \ \mbox{COST/qL} + \mbox{q}_{O,i}^{\uparrow} \ \cdot \ \mbox{COST/qO}+ \mbox{q}_{G,i}^{\uparrow} \ \cdot \ \mbox{COST/qG} + \mbox{q}_{W,i}^{\uparrow} \ \cdot \ \mbox{COST/qW} + \mbox{q}_{WI,i}^{\downarrow} \ \cdot \ \mbox{COST/qWI} | |||||||||||
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