Beginning-of-year balance for gross fixed assets

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Reference no: EM131831122

Free Cash Flow (LG2-5)

The 2015 income statement for Egyptian Noise Blasters shows that depreciation expense is $88 million, NOPAT is $263 million. At the end of the year, the balance of gross fixed assets was $690 million. The change in net operating working capital during the year was $78 million. Egyptian’s free cash flow for the year was $220 million.

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

Reference no: EM131831122

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