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The 2015 income statement for Duffys Pest Control shows that depreciation expense was $196 million, EBIT was $502 million, and the tax rate was 35
The 2015 income statement for Duffys Pest Control shows that depreciation expense was $196 million, EBIT was $502 million, and the tax rate was 35 percent. At the beginning of the year, the balance of gross fixed assets was $1,572 million and net operating working capital was $416 million. At the end of the year, gross fixed assets was $1,818 million. Duffys free cash flow for the year was $415 million. Calculate the end-of-year balance for net operating working capital. (Enter your answer in millions of dollars rounded to 1 decimal place.)
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