Caballos, Inc., has a debt to capital ratio of 34%, a beta of 1.19 and a pre-tax cost of debt of 7.9%. The firm had earnings before interest and taxes of $ 613 million for the last fiscal year, after depreciation charges of $ 222 million. The firm had capital expenditures of $ 339 million, and non-cash working capital increased by $ 30 million. The firm also had a book value of capital of $ 1.3 billion at the beginning of the last fiscal year. (The treasury bond rate is 3.3 %, the market risk premium is 6.4 % and the firm has a tax rate of 40 %). Assume that the firm is in stable growth, and that the return on capital and reinvestment rates for the last fiscal year can be sustained forever. Estimate the FCFF.