Joe Inc. recently reported operating income of $3.50 million (EBIT), depreciation of $1.20 million, and had a tax rate of 40%. The firm's expenditures on fixed assets and net working capital totaled $1.10 million. How much was its free cash flow, in millions? Show all work. Joe Inc. recently reported operating income of $3.50 million (EBIT), depreciation of $1.20 million, and had a tax rate of 40%. The firm's expenditures on fixed assets and net working capital totaled $1.10 million. How much was its free cash flow, in millions? Show all work.