Beginning-of-year balance for gross fixed assets

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Reference no: EM131575512

The 2015 income statement for Egyptian Noise Blasters shows that depreciation expense is $93 million, NOPAT is $278 million. At the end of the year, the balance of gross fixed assets was $715 million. The change in net operating working capital during the year was $83 million. Egyptian’s free cash flow for the year was $245 million.

Calculate the beginning-of-year balance for gross fixed assets.

Reference no: EM131575512

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