Question
Following are financial statement numbers and select ratios for Darden Restaurants Inc. for the year ended May 28, 2017 (dollars in millions). 2017 Sales $7,170.2
Following are financial statement numbers and select ratios for Darden Restaurants Inc. for the year ended May 28, 2017 (dollars in millions).
| 2017 Sales | $7,170.2 |
| 2017 Net operating assets (NOA) | $2,792.0 |
| Sales growth, 2018 through 2021 | 5.0% |
| Net operating profit margin (NOPM) | 7.1% |
| Net operating asset turnover (NOAT) | 2.57 |
| Terminal growth rate | 2% |
| Discount rate | 6% |
Use the information to determine the free cash flow to the firm (FCFF) in 2018.
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Conservation Easement IRS Audit Techniques Guide
Authors: Internal Revenue Service
1st Edition
1304133923, 978-1304133922
