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Problem 2 - 2 8 Free Cash Flow ( LG - 5 ) The income statement for Egyptian Noise Blasters shows that depreciation expense is

Problem 2-28 Free Cash Flow (LG-5)
The income statement for Egyptian Noise Blasters shows that depreciation expense is $98 million and NOPAT is $293 million. At the end of the year, the balance of gross fixed assets was $740 million. The change in net operating working capital during the year was $88 million. Egyptian's free cash flow for the year was $270 million.
Calculate the beginning-of-year balance for gross fixed assets.
Note: Enter your answer in millions of dollars. (i.e., Enter 10,000,000 as 10.)
Gross fixed assets
million
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