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If Quick Burger was financed entirely by equity, how much more tax would the company have paid? (Assume a tax rate of 21%.) The following

If Quick Burger was financed entirely by equity, how much more tax would the company have paid? (Assume a tax rate of 21%.)

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The following table shows an abbreviated income statement and balance sheet for Quick Burger Corporation for 2022. INCOME STATEMENT OF QUICK BURGER CORPORATION, 2922 (Figures in $ millions) Net sales 6 27,536 Costs 17,588 Depreciation 1,421 Earnings before interest and taxes (EBIT) $ 8,577 Interest expense 536 Pretax income 8,641 Federal taxes (@ 21%) 1,689 Net income $ 6,352 BALANCE SHEET OF QUICK BURGER CORPORATION, 2922 (Figures in $ millions) Assets 2922 2921 Liabilities and Shareholders' Equity 2022 2021 Current assets Current liabilities (ash and marketable securities $ 2,355 $ 2,355 Debt due for repayment 7 $ 424 Receivables 1,394 1,354 Accounts payable $ 3,422 3,162 Inventories 141 136 Total current liabilities $ 3,422 $ 3,586 Other current assets 1,168 635 Total current assets $ 4,998 $ 4,486 Fixed assets Longsterm debt $ 13,652 $ 12,153 Property, plant, and equipment $ 24,696 $ 22,654 Other long-term liabilities 3,676 2,976 Intangible assets (goodwill) 2,623 2,672 Total liabilities $ 26,156 $ 13,715 Other long-term assets 3,662 3,116 Total shareholders' equity 15,369 14,469 Total assets $ 35.519 $ 33;124 Total liabilities and shareholders' equity $ 35,519 $ 33'124 In 2022 Quick Burger had capital expenditures of $3,068. a. Calculate Quick Burger's free cash flow in 2022. Note: Enter your answer in millions. b. If Quick Burger was financed entirely by equity. how much more tax would the company have paid? (Assume a tax rate of 2%.) Note: Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places. c. What would the company's free cash flow have been if it was allequity financed? Note: Do not round intermediate calculations. Enter your answer in millions rounded to the nearest whole number. $ 4.983 million i12 00 million 4,871 million a. Free cash flow b.AddItionai tax c. Free cash flow

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