Find end-of-year balance for net operating working capital

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Reference no: EM131698826

Problem

The 2015 income statement for Duffy's Pest Control shows that depreciation expense was $197 million, EBIT was $504 million, and the tax rate was 35 percent. At the beginning of the year, the balance of gross fixed assets was $1,574 million and net operating working capital was $417 million. At the end of the year, gross fixed assets was $1,821 million. Duffy's free cash flow for the year was $417 million.

Calculate the end-of-year balance for net operating working capital. (Enter your answer in millions of dollars rounded to 1 decimal place.)

Reference no: EM131698826

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