Here are data on two firms:

	Equity ($ million)			Debt ($ million)			ROC (%)			Cost of Capital (%)
Acme		110			70			15			10
Apex		500			200			13			11

a-1. Calculate the higher economic value added? (Do not round intermediate calculations. Enter your answers in millions)

	Acme	Apex
Higher economic value added	$ million	$ million

a-2. Which firm has the higher economic value added?

	Acme has higher economic value added
	Apex has higher economic value added

b-1. Calculate the higher economic value added per dollar of invested capital? (Do not round intermediate calculations. Round your answers to 2 decimal places.)

	Acme	Apex
Higher economic value added	$	$

b-2. Which has higher economic value added per dollar of invested capital?