Calculate the most recent Book and Market Value Economic Value Added (EVA) for Adobe Systems (ADBE): (Assume operating lease data as of Dec. 2017)

-Assumepre-tax Rd is 3.35%.

-Total Purchase obligations for years 2018-2022 is $695,329.(description below)

In 2018 -- 449,823

In 2019 -- 245,087

In 2020 -- 410

In 2021-- 0

In 2022-- 0

Thereafter-- 0

-Total Future Minimum Lease Payments are $535,342 (description below)

In 2018 -- 60,464

In 2019 -- 62,307

In 2020 -- 63,341

In 2021-- 53,670

In 2022-- 44,016

Thereafter---251,544

-Total Future Minimum Sublease Income $10,226 (description below)

In 2018 -- 3,001

In 2019 -- 2,903

In 2020 -- 2,286

In 2021-- 2,036

In 2022-- 0

Thereafter---0

Problem:

1A.) 1.) Calculate most recent value of operating leases debt,

2A.) calculate the most recent book value of invested capital (don't use cash and short term investments)(accounts payable should be only part of operating current liabilities)(invested capital should be calculated as net working capital + fixed assets +adjustments),

3A.) calculate market value of capital (use deferred long term liability charges as deferred tax liability as u calculate "V").

4A.) Get the most recent annual value for EBIT. (use the nasdaq website) (tax rate=21%)

5A) Compute book value of EVA and Market value of EVA (assume WACC is 9.15%