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The following table shows an abbreviated income statement and balance sheet for Quick Burger Corporation for 2022. INCOME STATEMENT OF QUICK BURGER CORPORATION, 2022 (Figures

The following table shows an abbreviated income statement and balance sheet for Quick Burger Corporation for 2022.

INCOME STATEMENT OF QUICK BURGER CORPORATION, 2022
(Figures in $ millions)
Net sales $ 27,567
Costs 17,569
Depreciation 1,402
Earnings before interest and taxes (EBIT) $ 8,596
Interest expense 517
Pretax income 8,079
Federal taxes (@ 21%) 1,697
Net income $ 6,382
BALANCE SHEET OF QUICK BURGER CORPORATION, 2022
(Figures in $ millions)
Assets 2022 2021 Liabilities and Shareholders' Equity 2022 2021
Current assets Current liabilities
Cash and marketable securities $ 2,336 $ 2,336 Debt due for repayment $ 367
Receivables 1,375 1,335 Accounts payable $ 3,403 3,143
Inventories 122 117 Total current liabilities $ 3,403 $ 3,510
Other current assets 1,089 616
Total current assets $ 4,922 $ 4,404
Fixed assets Long-term debt $ 13,633 $ 12,134
Property, plant, and equipment $ 24,677 $ 22,835 Other long-term liabilities 3,057 2,957
Intangible assets (goodwill) 2,804 2,653 Total liabilities $ 20,093 $ 18,601
Other long-term assets 2,983 3,099 Total shareholders equity 15,293 14,390
Total assets $ 35,386 $ 32,991 Total liabilities and shareholders equity $ 35,386 $ 32,991

In 2022 Quick Burger had capital expenditures of $3,049.

  1. Calculate Quick Burgers free cash flow in 2022.

Note: Enter your answer in millions.

  1. If Quick Burger was financed entirely by equity, how much more tax would the company have paid? (Assume a tax rate of 21%.)

Note: Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.

  1. What would the companys free cash flow have been if it was all-equity financed?

Note: Do not round intermediate calculations. Enter your answer in millions rounded to the nearest whole number.

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