4. This company makes the world famous elefant chocolate from the milk of the elefants on Taborstrasse. Please figure out, if it creates any value for the shareholder (EVA). The debt has a rate of 6,3%, tax is 25%, common stock is based on the DCF (perpetuity) model with eps of 1,8 and a price of 25, preferred stock and retained earnings are based on CAPM. 10 points P+L Assets L+E SOLUTION sales 8.000.000 cash 400.000 short-term liabilities ROCE 650.000 cogs -4.000.000 receivables 6.000.000 780.000 long-term liabilities 1.250.000 sga -2.000.000 inventory WACC -1.000.000 common stock 100.000 depreciaion interest -60.000 property 3.500.000 preferred stock 2.400.000 EVA 4.400.000 retained earnings 1.180.000 taxes net profit Beta -30.000 plants 910.000 total assets 1,7 Market Rate 10.330.000 10.330.000 totallte 9% Risk Free Rate 1%