scarecrow

check the other post on Book 2 Errata for an explanation.

Basically

FCFF = NI +Dep + Int(1-t) +FCInv + WCInv

NI = (EBIT - Int)(1-t) = EBIT(1-t) - Int(1-t)

FCFF = EBIT(1-t) + Dep + FCInv +WCInv

Makes sense mathematically, just not logically in my head. Oh well, I know I'm wrong so that'll be something that sticks out in my head if they ask the question.