Avoinics Industrials reported at year end that operating income before taxes for the year equaled $2,400,000. The firm's weighted-average cost of capital (WACC) is 7.24%. The carrying amount of debt is $1,300,000, and the carrying amount of equity capital is $8,800,000. The income tax rate for Avionics is 30%. Assuming that there are no 'accounting distortions' to be adjusted, what is the economic value added (EVA)?

$731,240

$948,760

$1,668,760

$1,680,000