Following are financial statement numbers and select ratios for Darden Restaurants Inc. for the year ended May 27, 2012 (dollars in millions). Use the information to determine the free cash flow to the firm (FCFF) in 2013.
2012 Sales
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$7,998.7
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2012 Net operating assets (NOA)
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$3,892.2
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Sales growth, 2013 through 2016
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6.6%
|
Net operating profit margin (NOPM)
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6.8%
|
Net operating asset turnover (NOAT)
|
2.06
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Terminal growth rate
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4%
|
Discount rate
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5%
|