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Lauryn's Doll Co. had EBIT last year of $45 million, which is net of a depreciation expense of $4.5 million. In addition, Lauryn's made $4.25
Lauryn's Doll Co. had EBIT last year of $45 million, which is net of a depreciation expense of $4.5 million. In addition, Lauryn's made $4.25 million in capital expenditures and increased net working capital by $4.1 million. Assume that Lauryn's has a reported equity beta of 1.5, a debt-to-equity ratio of 3, 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.) FCF million
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