Free Cash Flow

Garnet Inc.
Income Statement	2013		2012
Net sales	$530.0		$500.0
Costs (except depreciation)	400.0		380.0
Depreciation	30.0		25.0
Total operating costs	$430.0		$405.0
Earnings before interest and taxes (EBIT)	100.0		95.0
Less interest	23.0		21.0
Earnings before taxes	$77.0		$74.0
Taxes (34%)	26.2		25.2
Net income	50.8		48.8
Balance Sheet	2013		2012
Assets
Cash	$28.0		$27.0
Marketable securities	69.0		66.0
Accounts receivable	84.0		80.0
Inventories	112.0		106.0
Total current assets	$293.0		$279.0
Net plant and equipment	281.0		265.0
Total assets	$574.0		$544.0
Liabilities and Equity
Accounts payable	$56.0		$52.0
Notes payable	138.0		130.0
Accruals	28.0		28.0
Total current liabilities	$222.0		$210.0
Long-term bonds	173.0		164.0
Common stock	100.0		100.0
Retained earnings	79.0		70.0
Common equity	$179.0		$170.0
Total liabilities and equity	$574.0		$544.0

Use the income statements and balance sheets above to calculate Garnet Inc.'s free cash flow for 2013. Round your answer to the n