Here are simplified financial statements for Watervan Corporation

INCOME STATEMENT (Figures in $ millions) Net sales $ 898 Cost of goods sold 758 Depreciation 48 Earnings before interest and taxes (EBIT) $ 92 Interest expense 29 Income before tax $ 63 Taxes 30 Net income $ 33 BALANCE SHEET (Figures in $ millions) End of Year Start of Year Assets Current assets $ 386 $ 346 Long-term assets 292 239 Total assets $ 678 $ 585 Liabilities and shareholders equity Current liabilities $ 211 $ 174 Long-term debt 125 138 Shareholders equity 342 273 Total liabilities and shareholders equity $ 678 $ 585 The companys cost of capital is 7.50%.

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