You’re an MA analyst at Morgan Stanley working on Ned Corp, a small private company, that received an offer from a larger company to buy Ned Corp.

You’re an M&A analyst at Morgan Stanley working on Ned Corp, a small private company, that received an offer from a larger company to buy Ned Corp. Based on historical financials and your knowledge of the company’s strategy, over the next year Ned Corp is expected to have EBIT of $90 million, D&A of $23 million, Capital Expenditures of $28 million and a Net Working Capital increase of $4 million. If Ned Corp’s expected tax rate is 28%, what is its Free Cash Flow expected to be next year?