Calculate the free cash flow generated

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Reference no: EM13971181

Ajax Ltd reported Net Income of $435m in 2013, after providing for $186m in tax at a rate of 30%. Interest Expense was $56m and Depreciation was $32m. The increase in working capital required to generate that Net Income in 2013 was $23m and the firm also invested $53m in new property, plant and equipment during the year.

Calculate the free cash flow generated by Ajax Ltd in 2013.

(Show your answer in million dollars to one decimal place, eg $999.9)

Reference no: EM13971181

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