Last year katersquos cafeacute inc generated 325 million in, Ask an Expert

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Last year, Kate’s Café, Inc. generated $325 million in net income on total capital invested of $2,190 million. The company’s effective tax rate was 35%, and they had $59 million of interest expense. If the company’s cost of capital is 10.45%, what was the economic value added for the year? (Enter your answer in millions and round to two decimal places.)

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