Last year Rattner Robotics had $7 million in operating income (EBIT). Its depreciation expense was $1 million, its inter

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Last Year Rattner Robotics Had 7 Million In Operating Income Ebit Its Depreciation Expense Was 1 Million Its Inter 1 (21.75 KiB) Viewed 49 times

Last year Rattner Robotics had $7 million in operating income (EBIT). Its depreciation expense was $1 million, its interest expense was $1 million, and its corporate tax rate was 35%. At year-end, it had $14 million in operating current assets, $3 million in accounts payable, $1 million in accruals, S4 million in notes payable, and $15 million in net plant and equipment. Assume Rattner has no excess cash. Rattner uses only debt and common equity to fund its operations. In other words, Rattner has no preferred stock on its balance sheet Rattner had no other current liabilities. Assume that Rattner's only noncash item was depreciation How much was the net operating working capital of Rattner Robotics, in millions of USD? Enter your answer in the following format: 12.34 Hint: Answer is between 9 and 10.8