The Ronayne Corporation has on its balance sheet $5 million in net operating working capi- EVA tal

Question:

The Ronayne Corporation has on its balance sheet $5 million in net operating working capi-

EVA tal and S3 7 million in net fixed assets. The company's weighted average cost of capital is 8.5 percent. The company has the following income statement:

Sales Operating costs EBIT Interest EBT Taxes (40%)

Net income 525,000,000 18,625,000

$ 6,375,000 2,325,000 S 4,050,000 1,620,000 S 2.430,000 What is Ronayne s EVA?

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