Coptermagic Company supplies helicopters to corporate clients. Coptermagic has two sources of funds: long term debt with a market and book value of $32 million issued at an interest rate of 10%, and equity capital that has a market value of $18 million (book value of $8 million). The cost of equity capital for Coptermagic is 15%, and its tax rate is 30%. Coptermagic has profit centers in four divisions that operate autonomously. The company's results for 2015 are as follows:

	Operating Income	Assets	Current Liabilities
New York	$1,750,000	$11,500,000	$2,500,000
Chicago	$2,400,000	$9,000,000	$3,500,000
Dallas	$4,675,000	$27,500,000	$9,500,000
Los Angeles	$4,200,000	$25,000,000	$8,000,000

Required:

a. Compute Coptermagic's weighted average cost of capital.

b. Compute each division's Economic Value Added.

c. Rank the divisions by EVA.

*PLEASE SHOW ALL CALCULATIONS*