Olden Company has a tax rate of 40 percent. Information for the company is as follows:

	Amount	After-tax Cost
Mortgage bonds	$1,000,000	0.048
Unsecured bonds	3,000,000	0.050
Common stock	6,000,000	0.150

What is the EVA if the before-tax operating income is $1,500,000?

a.$402,000

b.$1,134,000

c.$534,000

d.$(198,000)