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Lauryn's Doll Co. had EBIT last year of $60 million, which is net of a depreciation expense of $6.0 million. In addition, Lauryn's made $5.55
Lauryn's Doll Co. had EBIT last year of $60 million, which is net of a depreciation expense of $6.0 million. In addition, Lauryn's made $5.55 million in capital expenditures and increased net working capital by $2.3 million. Assume that Lauryn's has a reported equity beta of 1.5, a debt-to-equity ratio of 0.8, and a tax rate of 30 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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