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At the end of this fiscal year, ABC Company's balance sheet showed $2,200,000 of long term debt, $1,000,000 of common stock account, and $2,652,629 of
At the end of this fiscal year, ABC Company's balance sheet showed $2,200,000 of long term debt, $1,000,000 of common stock account, and $2,652,629 of retained earnings. The company had no preferred stock outstanding, and the market value of its long-term debt was the same as its book value. The company had 110,670 shares of common stock with the end-of-year price of $33.2 per share. How much value (MVA) did ABC Company's management add to stockholders' wealth this year? Round your answer to the nearest dollar, but ignore dollar sign. If your answer has a negative number, add '-' to your answer, e.g., XX,XXX or -xx,xxx. (Hint: MVA = MV of capital - BV of capital) =
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