Este Famosa earned net income last year as shown in the following income statement
Sales ..................................................... $3,750,000
Cost of goods sold ..................................... 2,250,000
Gross margin ............................................ 1,500,000
Selling and administrative expense .................. 1,200,000
Operating income ....................................... $ 300,000
Total capital employed equalled $1,200,000. Este Famosa's actual cost of capital is 4 percent.
Required:
Calculate the EVA for Este Famosa.