Here are simplified financial statements of phone corporation from a recent year:

Income Statement (millions of dollars)
Net sales	13,213
Cost of goods sold	4,040
Other expenses	4,069
Depreciation	2,498
Earnings before interest and taxes (EBIT)	2,606
Interest expenses	705
Income before tax	1,901
Taxes	550
Net income	1,351
Dividends	846

Statement of Financial Position (millions of dollars)
	End of Year		Start of Year
Assets:
Cash and marketable securities	99		168
Receivables	2,362		2,470
Inventories	197		248
Other current assets	857		922
Total current assets	3,515		3,808
Net property, plant, and equipment	19,953		19,895
Other long-term assets	4,226		3,780
Total assets	27,694		27,483
Liabilities and shareholders' equity:
Payables	2,574		3,050
Short-term debt	1,409		1,563
Other current liabilities	821		797
Total current liabilities	4,804		5,410
Long-term debt and leases	7,058		6,813
Other long-term liabilities	6,188		6,159
Shareholders' equity	9,644		9,101
Total liabilities and shareholders' equity	27,694		27,483

Phone Corp.s cost of capital was 7.3%. Estimate the tax rate (taxes/income before taxes) and calculate net operating profit after taxes. (Round your intermediate calculations and final answers to 2 decimal places. Enter your answer for NOPAT in millions of dollars.)

Estimated tax rate	%

NOPAT	$

What was Phone Corp's economic value added? (Round your intermediate calculations and final answer to 2 decimal places. Enter your answer in millions of dollars.)

EVA	$

Here are simplified financial statements of phone corporation from a recent year: Income Statement (millions of dollars) Net sales Cost of goods sold Other expenses Depreciation Earnings before interest and taxes (EBIT) Interest expenses Income before tax Taxes Net income Dividends 13, 213 4,040 4,069 2,498 2,606 705 1,901 550 1,351 846 Start of Year Statement of Financial Position (millions of dollars) End of Year Assets: Cash and marketable securities 99 Receivables 2,362 Inventories 197 Other current assets 857 Total current assets 3,515 Net property, plant, and equipment 19,953 Other long-term assets 4,226 Total assets 27,694 Liabilities and shareholders' equity: Payables 2,574 Short-term debt 1,409 Other current liabilities 821 Total current liabilities 4,804 Long-term debt and leases 7,058 Other long-term liabilities 6,188 Shareholders' equity 9,644 Total liabilities and shareholders' equity 27,694 168 2,470 248 922 3,888 19,895 3,780 27,483 3,050 1,563 797 5,410 6,813 6,159 9,101 27,483 Phone Corp's cost of capital was 7.3%. Estimate the tax rate (taxes/income before taxes) and calculate net operating profit after taxes. (Round your intermediate calculations and final answers to 2 decimal places. Enter your answer for NOPAT in millions of dollars.) Estimated tax rate NOPAT What was Phone Corp's economic value added? (Round your intermediate calculations and final answer to 2 decimal places. Enter your answer in millions of dollars.) EVA $