Assume that you have been asked to estimate the free cash flow to the firm last year for Canola Inc. and have collected the following information.

The firm reported earnings before interest, taxes, depreciation and amortization of $ 434 million on its revenues of $ 1207 million.

Depreciation and amortization charges amounted to $ 183 million and capital expenditures were $ 120 million.

Canola spent $ 195 million last year on research and development in its medical division and calculated an amortization for past R&D of $ 121 million

The tax rate for the firm is 33 %.

The working capital items for the last year (left column) and the previous year (right column) are reported below.

Cash $ 36 million $ 21 million

Accounts Receivable $ 51 million $ 50 million

Inventory $ 94 million $ 83 million

Accounts Payable $ 65 million $ 97 million

Short term Debt $ 203 million $ 213 million

Estimate the free cash flows to the firm last year.