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12.1 FREE CASH FLOWS. Explain “free” cash flows. Describe which types of cash flows are free and… 1 answer below » 12.1 FREE CASH FLOWS. Explain “free” cash flows. Describe which types of cash flows are free and which are not. How do free cash flows available for debt and equity stake- holders differ from free cash flows available for common equity shareholders? Dec 08 2015 04:22 PM