3. Performance measures (S29.2) Table 29.8 gives abbreviated balance sheets and income statements for Walmart. At the

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3. Performance measures (S29.2) Table 29.8 gives abbreviated balance sheets and income statements for Walmart. At the end of fiscal 2019, Walmart had 2,832 million shares outstanding with a share price of $94. The company’s weighted-average cost of capital was about 5%. Assume the corporate tax rate was 21%. Calculate:

a. Market value added.

b. Market-to-book ratio.

c. Economic value added.

d. Return on start-of-the-year capital.

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