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

Management Studies

Dave's Tires Inc. has been asked by its shareholders to calculatethe 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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