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Back to Assignment PROFILE ORDERS RENIALS COURSES Study Tools College Success Tips Career Success Tips ? Help Attempts Keep the Highest / 1 6 .

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PROFILE
ORDERS
RENIALS
COURSES
Study Tools
College Success Tips
Career Success Tips
? Help
Attempts Keep the Highest /1
6. Problem 3.11(EVA)
For 2021, Gourmet Kitchen Products reported $21 million of sales and $18 million of operating costs (including depreciation). The company has $14 million of total invested capital. Its after-tax cost of capital is 10% and its federal-plus-state income tax rate was 25%. What was the firm's economic value added (EVA), that is, how much value did management add to stockholders' wealth during 2021? Write out your answer completely. For example, 25 million should be entered as 25,000,000. Round your answer to the nearest dollar, if necessary.
$
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