Here are simplified financial statements for Watervan Corporation:

INCOME STATEMENT

$($Figures in $ millions$)$

Net sales $ $881$

Cost of goods sold $741$

Depreciation $31$

Earnings before interest and taxes $($EBIT$)$ $ $109$

Interest expense $12$

Income before tax $ $97$

Taxes $20$

Net income $ $77$

BALANCE SHEET

$($Figures in $ millions$)$

End of Year Start of Year

Assets

Current assets $ $369$ $ $312$

Long$-$term assets $258222$

Total assets $ $627$ $ $534$

Liabilities and shareholders$$ equity

Current liabilities $ $194$ $ $157$

Long$-$term debt $108121$

Shareholders$$ equity $325256$

Total liabilities and shareholders$$ equity $ $627$ $ $534$

The company$$s cost of capital is $8\mathrm{.}5\%.$

Required:

a$.$ Calculate Watervan$$s economic value added $($EVA$).($Do not round intermediate calculations. Enter your answer in millions rounded to $2$ decimal places.$)$