Jeans had net income of $16000000. Include in income was interest expense of $ 1300000. The operation tax rate is 40%. Estimated cost of capital is 12% . Calculate economic value added EVA for blue jeans

The abridged balance-sheet of Blue Jeans is as below: Liabilities Amount Assets Amount Current liabilities Property, Plant & 180,000,000 Equipment Accounts 30,000,000 Current assets payable Short-term debt 15,000,000 Accounts 25,000,000 Receivables Long term debt Inventory 15,000,000 6% Senior Notes 90,000,000 Cash 5,000,000 6.5% Junior 80,000,000 notes Share Capital 10,000,000 Total 225,000,000 Total 225,000,000 The cost of capital is estimated at 12%. Calculate Economic Value Added (EVA) for