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The following are selected numbers from the financial statements for a firm (in millions). Estimate the FCFEs in 2012 and 2013. FCFE = earnings +

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The following are selected numbers from the financial statements for a firm (in millions). Estimate the FCFEs in 2012 and 2013. FCFE = earnings + Depreciation - Delta NWC - Cap Exp.+ Delta Debt or, FCFE = earnings + (Depreciation - Delta NWC - Cap Exp.) times (1 - d) d: debt ratio (A) FCFE in 2012 (B) FCFE in 2013

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