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Here are simplified financial statements for Watervan Corporation:

INCOME STATEMENT
(Figures in $ millions)
Net sales	$	894.00
Cost of goods sold		754.00
Depreciation		44.00
Earnings before interest and taxes (EBIT)	$	96.00
Interest expense		25.00
Income before tax	$	71.00
Taxes		14.91
Net income	$	56.09

BALANCE SHEET
(Figures in $ millions)
	End of Year				Start of Year
Assets
Current assets	$	382			$	338
Long-term assets		284				235
Total assets	$	666			$	573
Liabilities and shareholders equity
Current liabilities	$	207			$	170
Long-term debt		121				134
Shareholders equity		338				269
Total liabilities and shareholders equity	$	666			$	573

The companys cost of capital is 8.5%.

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

b. What is the companys return on capital? (Use start-of-year rather than average capital.) (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

c. What is its return on equity? (Use start-of-year rather than average equity.) (Enter your answer as a percent rounded to 2 decimal places.)

d. Is the company creating value for its shareholders?