Question
The income statement for Duffys Pest Control shows that depreciation expense was $202 million, EBIT was $514 million, and the tax rate was 30 percent.
The income statement for Duffys Pest Control shows that depreciation expense was $202 million, EBIT was $514 million, and the tax rate was 30 percent. At the beginning of the year, the balance of gross fixed assets was $1,584 million and net operating working capital was $422 million. At the end of the year, gross fixed assets was $1,836 million. Duffys free cash flow for the year was $427 million.
Calculate the end-of-year balance for net operating working capital.
Note: Enter your answers in millions of dollars rounded to 1 decimal place. (i.e., Enter 5,500,000 as 5.5.)
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