Question
Lauryns Doll Co. had EBIT last year of $54 million, which is net of a depreciation expense of $5.4 million. In addition, Lauryn made $6.75
Lauryns Doll Co. had EBIT last year of $54 million, which is net of a depreciation expense of $5.4 million. In addition, Lauryn made $6.75 million in capital expenditures and increased net working capital by $2.9 million. Assume that Lauryn has a reported equity beta of 1.6, a debt-to-equity ratio of .9, and a tax rate of 30 percent. What is Lauryns FCF for the year? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places. Omit the "$" sign in your response.)
FCF $ ? million
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