Freeda Co. reported annual operating profits for the year of $89.2m after charging $9.6m for the full development costs of a new product that is expected to be on the market for the current year and two more years after. Freedas weighted average cost of capital is 13% per annum. The companys balance sheet shows fixed assets that have a historical cost value of $120m. These assets have been depreciated at 20% per year. The replacement cost of these fixed assets at the beginning of the year is $168m. Freeda has a working capital of $27.2m. Ignoring the effects of taxation, what is the best estimate of the Economic Value Added (EVA) of Freeda Co. State any necessary assumptions.