. BE SURE TO SAVE YOUR ANSWERS FREQUENTLY. Danville Corporation has been provided by its lenders and owners with $46,000,000 to purchase assets. It costs the company 9% per year, on average, to deliver a fair rate of return to these investors. The most recent years income statement showed Earnings Before Interest and Taxes (EBIT, or Operating Income) of $14,500,000, and the company paid income tax at a 22% combined state plus federal average rate. What was Economic Value Added (EVA) for the year?

• A. $15,450,000
• B. $3,075,000
• C. $950,000
• D. $7,170,000
• E. $4,095,000