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The 2015 income statement for Egyptian Noise Blasters shows that depreciation expense is $82 million, NOPAT...

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Finance

The 2015 income statement for Egyptian Noise Blasters shows thatdepreciation expense is $82 million, NOPAT is $245 million. At theend of the year, the balance of gross fixed assets was $660million. The change in net operating working capital during theyear was $72 million. Egyptian’s free cash flow for the year was$190 million.

Calculate the beginning-of-year balance for gross fixed assets.(Enter your answer in millions of dollars.)

Answer & Explanation Solved by verified expert
4.2 Ratings (621 Votes)
We have Operating cash flows NOPAT Depreciation expense 245 million 82 million 327 million Step 1 Find Investment in operating capital Free cash flow Operating cash flows Investment in    See Answer
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