- Problem 6-5 Free Cash Flow Model (LO3, CFA7)

Lauryns Doll Co. had EBIT last year of $56 million, which is net of a depreciation expense of $5.6 million. In addition, Lauryns made $5.3 million in capital expenditures and increased net working capital by $2.7 million. Assume that Lauryns has a reported equity beta of 1.7, a debt-to-equity ratio of .4, and a tax rate of 21 percent. What is Lauryns FCF for the year?(Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)

FCF = _____ million