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The following table shows an abbreviated income statement and balance sheet for Quick Burger Corporation for 2016. INCOME STATEMENT OF QUICK BURGER CORP., 2016 (Figures

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The following table shows an abbreviated income statement and balance sheet for Quick Burger Corporation for 2016. INCOME STATEMENT OF QUICK BURGER CORP., 2016 (Figures in $ millions) Net sales $ 27,571 Costs 17,573 Depreciation 1,406 Earnings before interest and taxes (EBIT) $ 8,592 Interest expense 521 Pretax income 8,071 Taxes 2,825 Net income $ 5,246 2016 2015 379 3,147 3,526 3,407 Assets Current assets Cash and marketable securities Receivables Inventories Other current assets Total current assets Fixed assets Property, plant, and equipment Intangible assets (goodwill) Other long-term assets Total assets BALANCE SHEET OF QUICK BURGER CORP., 2016 (Figures in $ millions) 2016 2015 Liabilities and Shareholders' Equity Current liabilities 2,340 2,340 Debt due for repayment 1,379 1,339 Accounts payable 126 Total current liabilities 1,093 620 4,938 4,420 Long-term debt 24,681 22,839 Other long-term liabilities 2,808 2,657 Total liabilities 3,103 Total shareholders' equity 35,414 33,019 Total liabilities and shareholders' equity 13,637 3,061 20,105 15,309 35,414 12,138 2,961 18,625 14,394 33,019 a. Calculate Quick Burger's free cash flow in 2016. (Enter your answer in millions.) Free cash flow $ 3,862 million b. If Quick Burger was financed entirely by equity, how much more tax would the company have paid? (Assume a tax rate of 35%.) (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) Additional tax million c. What would the company's free cash flow have been if it was all-equity financed? Free cash flow

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