(Answered) Daves tires inc has been asked by its shareholders to

Management Studies

Dave's Tires Inc. has been asked by its shareholders to calculate the economic value added (EVA) for the current year. Dave'scontroller has the following information available:

Before-tax profit $6,000,000

Total assets 10,000,000

Current liabilities 2,000,000

Average interest rate on debt 10%

Average tax rate 40%

The company's EVA is:

a. $1,600,000

b. $5,200,000

c. $2,800,000

d. $2,400,000

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