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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

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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 Net sales Costs Depreciation (Figures in $ millions). Earnings before interest and taxes (EBIT) Interest expense Pretax income Federal taxes (@21%) Net income $ 27,569 17,571 1,404 $8,594 519 8,075 1,696 $6,379 BALANCE SHEET OF QUICK BURGER CORPORATION, 2022 (Figures in 5 millions). 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 2022 2021 Liabilities and Shareholders' Equity Current liabilities 2022 2021 Debt due for repayment 1,337 Accounts payable 119 $3,405 $3,405 $ 373 3,145 $3,518 $2,338 1,377 124 $ 2,338 618 $ 4,412 $22,837 Total current liabilities Long-term debt Other long-term liabilities 2,655 Total liabilities 1,091 $ 4,930 $24,679 2,806 2,985 3,101 Total shareholders' equity $ 35,400 $ 33,005 Total 11abilities and shareholders' equity In 2022 Quick Burger had capital expenditures of $3,051 a. Calculate Quick Burger's free cash flow in 2022 Note: Enter your answer in millions. $13,635 3,059 $ 20,099 15,301 $ 35,400 $12,136 2,959 $18,613 14,392 $ 33,005 b. 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. c. What would the company's 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. a. Free cash flow b. Additional tax million million c. Free cash flow milion

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