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Lauryns Doll Co. had EBIT last year of $43 million, which is net of a depreciation expense of $4.3 million. In addition, Lauryns made $7
Lauryns Doll Co. had EBIT last year of $43 million, which is net of a depreciation expense of $4.3 million. In addition, Lauryns made $7 million in capital expenditures and increased net working capital by $4.0 million. Assume that Lauryns has a reported equity beta of 1.4, a debt-to-equity ratio of .6, and a tax rate of 21 percent. What is Lauryns FCF for the year?(Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)
FCF _____ million
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