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Following are financial statement numbers and select ratios for Madison Inc. for the year ended May 28, 2020 ($ in millions). 2020 Sales $7,170 $2,792
Following are financial statement numbers and select ratios for Madison Inc. for the year ended May 28, 2020 ($ in millions). 2020 Sales $7,170 $2,792 5.0% 2020 Net operating assets (NOA) Sales growth, 2021 through 2024 Net operating profit margin (NOPM) Net operating asset turnover (NOAT) Terminal growth rate 7.0% 2.57 2% Discount rate 6% Use the information to determine the free cash flow to the firm (FCFF) in 2021. (Please show your calculations)
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