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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 $ 27,575
Costs 17,577
Depreciation 1,410
Earnings before interest and taxes (EBIT) $ 8,588
Interest expense 525
Pretax income 8,063
Federal taxes (@ 21%) 1,693
Net income $ 6,370

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 $ 2,344 $ 2,344 Debt due for repayment $ 391
Receivables 1,383 1,343 Accounts payable $ 3,411 3,151
Inventories 130 125 Total current liabilities $ 3,411 $ 3,542
Other current assets 1,097 624
Total current assets $ 4,954 $ 4,436
Fixed assets Long-term debt $ 13,641 $ 12,142
Property, plant, and equipment $ 24,685 $ 22,843 Other long-term liabilities 3,065 2,965
Intangible assets (goodwill) 2,812 2,661 Total liabilities $ 20,117 $ 18,649
Other long-term assets 2,991 3,107 Total shareholders equity 15,325 14,398
Total assets $ 35,442 $ 33,047 Total liabilities and shareholders equity $ 35,442

$ 33,047

In 2022 Quick Burger had capital expenditures of $3,057.

A) Calculate Quick Burgers free cash flow in 2022. Note: Enter your answer in millions.

C) 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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