Kalogeras Industries recently reported $280,000 of sales, $150,000 of operating costs other than depreciation, and $25,000 of depreciation. The company had no amortization charges, it had $100,000 of bonds that carry a 7% interest rate, and its federal-plus-state income tax rate was 40%. In order to sustain its operations and thus generate sales and cash flows in the future, the firm was required to make $50,000 of capital expenditures on new fixed assets and to invest $8,000 in net operating working capital. What is the firm's free cash flow?