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Here are data on two firms: ROC Equity ($ million) 140 450 Debt ($ million) 100 150 Cost of Capital () 8 9 Acme Apex

Here are data on two firms: ROC Equity ($ million) 140 450 Debt ($ million) 100 150 Cost of Capital () 8 9 Acme Apex 18 16 a-1. Calculate the economic value added? (Do not round intermediate calculations. Enter your answers in millions) Acme Apex 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

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