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Watson Oil recently reported (in millions) $8,250 of sales, $5,750 of operating costs other than depreciation, and $800 of depreciation, The company had $3,200 of

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Watson Oil recently reported (in millions) $8,250 of sales, $5,750 of operating costs other than depreciation, and $800 of depreciation, The company had $3,200 of outstanding bonds that carry a 5% interest rate, and its federal-plus-state income tax rate was 35 %. In order to sustain its operations and thus generate future sales and cash flows, the fim was required to make $1,250 of capital expenditures on new fixed assets and to invest $300 in net operating working capital. By how much did the firm's net income exceed its free.cash fon? Do not round the intermediate calculations

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