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In 2016, McDonalds had Net Income of $2395.1 million, capital expenditures of $1,946.6 million, depreciation of $1,214.1 million, and an increase in non-cash working capital of $428.6 million. The firm raised $572.6 million from new debt issues and maintains a debt ratio of 40%. Calculate free cash flow to equity (FCFE) for McDonalds in 2016.

Financial Management, Finance

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