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Lauryns Doll Co. had EBIT last year of $47 million, which is net of a depreciation expense of $4.7 million. In addition, Lauryns made $7.25
Lauryns Doll Co. had EBIT last year of $47 million, which is net of a depreciation expense of $4.7 million. In addition, Lauryns made $7.25 million in capital expenditures and increased net working capital by $2.8 million. Assume that Lauryns has a reported equity beta of 1.5, a debt-to-equity ratio of 0.5, and a tax rate of 40 percent. What is Lauryns FCF for the year? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)
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