Joe inc recently reported operating income of 350 million, Ask an Expert

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Joe Inc. recently reported operating income of $3.50 million (EBIT), depreciation of $1.20 million, and had a tax rate of 40%. The firm's expenditures on fixed assets and net working capital totaled $1.10 million. How much was its free cash flow, in millions? Show all work. Joe Inc. recently reported operating income of $3.50 million (EBIT), depreciation of $1.20 million, and had a tax rate of 40%. The firm's expenditures on fixed assets and net working capital totaled $1.10 million. How much was its free cash flow, in millions? Show all work.

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