Nedib.J Ltd. has a constant gross margin of 35% and a constant EBIT margin of 22%. The following tables contain information from Nedib.Js accounting statements in 2022 and the projection in 2023.

From Balance Sheet ($000)
Assets	2022		Liabilities and shareholders' equity	2022
Cash	52		Accounts payable	81
Accounts receivables	87		Notes payable	39
Inventory	72		Total current liabilities	120
Total current assets	211		Long-term debt	220
Fixed assets	800		Common stock

From Statement of Income & Management Projection ($000)
	2022	2023 (projection)
Total Revenues	520	480
Depreciation	90	100
Interest Expense	70	60

Nedib.J expects to invest $20m in 2023. The marginal tax rate is 35%. Answer the following questions:

1. Calculate the book value of equity for Nedib.J

(2 marks)

2. Calculate the 2022 cash conversion cycle for Nedib.J. Keep two decimal places.

(8 marks)

3. Assuming Nedib.Js inventory, receivables, payable days, gross profit margin, and net profit margin do not change in 2023 (same as in 2022):

1. Calculate Nedib.Js estimated Net Income in 2023. Keep two decimal places.

(2 marks)

2. Calculate Nedib.Js estimated FCFF in 2023. Keep two decimal places.