Net sales$27,571

Costs17,573

Depreciation1,406

Earnings before interest and taxes (EBIT)$8,592

Interest expense521

Pretax income8,071

Federal taxes (@ 21%)1,695

Net income$6,376

BALANCE SHEET OF QUICK BURGER CORP., 2019(Figures in $ millions)Assets20192018Liabilities and Shareholders' Equity20192018

Current assets

Current liabilities

Cash and marketable securities$2,340$2,340

Debt due for repayment$379

Receivables1,3791,339

Accounts payable$3,4073,147

Inventories126121

Total current liabilities$3,407$3,526

Other current assets1,093620

Total current assets$4,938$4,420

Fixed assets

Long-term debt$13,637$12,138

Property, plant, and equipment$24,681$22,839

Other long-term liabilities3,0612,961

Intangible assets (goodwill)2,8082,657

Total liabilities$20,105$18,625

Other long-term assets2,9873,103

Total shareholders' equity15,30914,394

Total assets$35,414$33,019

Total liabilities and shareholders' equity$35,414$33,019

In 2019 Quick Burger had capital expenditures of $3,053.

a.Calculate Quick Burger's free cash flow in 2019.(Enter your answer in millions.)

b.If Quick Burger was financed entirely by equity, how much more tax would the company have paid?(Assume a tax rate of 21%.)(Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)

c.What would the company's free cash flow have been if it was all-equity financed?(Enter your answer in millions.)