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Assume the following information (numbers in millions). Note: You can copy this table directly into Excel. Data Item 2022 2023 EBIT ($) 13831 8891
Assume the following information (numbers in millions). Note: You can copy this table directly into Excel. Data Item 2022 2023 EBIT ($) 13831 8891 Interest Expense ($) 113 -1082 Operating Assets ($) 34985 36920 Operating Liabilities 25,365 25703 ($) Net Fixed Assets ($) 41421 57002 Debt ($) 6942 10548 Tax Rate (%) 8.3% -50.1% What is free cash flow to equity in 2023? IMPORTANT! It will be very easy to goof up this problem given the negative interest expense and negative tax rate. Remember, if you subtract a negative this turns it into a positive. Hint: It will be so amazingly useful to remember the FCFE extra credit problem. To help, please note that the answer ranges between 1.300 and 2,100.
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