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Johnson Construction Co. had $650 million of sales and $390 million of fixed assets last year, so its FA/Sales ratio was 60%. However, its fixed
Johnson Construction Co. had $650 million of sales and $390 million of fixed assets last year, so its FA/Sales ratio was 60%. However, its fixed assets were used at only 65% of capacity. If the company had been able to sell off enough of its fixed assets at book value so that it was operating at full capacity, with sales held constant at $650 million, the company would have generated $_________ (in millions) cash.
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