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The 2018 income statement for Duffys Pest Control shows that depreciation expense was $195 million, EBIT was $500 million, and the tax rate was 36
The 2018 income statement for Duffys Pest Control shows that depreciation expense was $195 million, EBIT was $500 million, and the tax rate was 36 percent. At the beginning of the year, the balance of gross fixed assets was $1,570 million and net operating working capital was $415 million. At the end of the year, gross fixed assets was $1,815 million. Duffys free cash flow for the year was $413 million.
Calculate the end-of-year balance for net operating working capital. (
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