Allwyn Housing is a construction supplies company that has been hit by the slowing down of the housing market. The company has been losing money for a while and has accumulated a net operating loss carry forward of $40 million (including the most recent year's loss). In the most recent year, the company reported EBITDA of $12.5 million on revenues of $500 million and had a depreciation charge of $40 million. Over the next 3 years, the company expects the following:

• Sales will increase 5% a year for the next 3 years.
• The EBITDA margin (EBITDA/Sales) will double each year for the next 3 years.
• The company has excess capacity and will not make any capital expenditures for the next 3 years and depreciation is expected to remain $40 million each year for this period.
• The company currently has inventory of $50 million (and no other working capital). This inventory will decrease $10 million each year for the next 3 years.
• The marginal tax rate that the company will face when it has taxable income is 40%.

Estimate the free cash flows to the firm each year for the next 3 years.