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Scranton Shipyards has $18 million in total investor-supplied operating capital, and its WACC is 10%. Scranton has the following income statement: Sales Operating costs Operating income (EBIT) Interest expense Earnings before taxes (EBT) Taxes (40%) Net income $10.0 million 6.0 million $ 4.0 million 2.0 million $ 2.0 million 0.8 million $ 1.2 million What is Scranton's EVA? O a. $690,000 O b. $720,000 O c. $630,000 O d. $600,000 O e. $510,000 Hayes Corporation has $300 million of common equity, with 6 million shares of common stock outstanding. If Hayes' Market Value Added (MVA) is $206 million, what is the company's stock price? O a. $84.33 O b. $94.45 O c. $104.57 O d. $71.68 O e. $100.36 Which of the following statements is most correct? O a. 70% of the dividends received by corporations is excluded from taxable income. Retained earnings, as reported on the balance sheet, represents the amount of cash a company has available to pay out as dividends to shareholders. O c. The corporate tax system favors equity financing, as dividends paid are deductible from corporate taxes. Because taxes on long-term capital gains are not paid until the gain is realized, investors must pay the top individual tax rate on " that gain. O e. 70% of the interest received by corporations is excluded from taxable income