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Lauryn's Doll Co. had EBIT last year of $44 million, which is net of a depreciation expense of $4.4 million. In addition, Lauryn's made $5.25
Lauryn's Doll Co. had EBIT last year of $44 million, which is net of a depreciation expense of $4.4 million. In addition, Lauryn's made $5.25 million in capital expenditures and increased net working capital by $3.3 million. Assume that Lauryn's has a reported equity beta of 1.4, a debt-to-equity ratio of .7, and a tax rate of 21 percent. What is Lauryn's FCF for the year?(Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)
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