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Problem 12-20 EVA The table below shows a condensed income statement and balance sheet for Androscoggin Copper's Rumford smelting plant (figures in $ millions). Assume

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Problem 12-20 EVA The table below shows a condensed income statement and balance sheet for Androscoggin Copper's Rumford smelting plant (figures in $ millions). Assume the cost of capital is 11%. Assets, December 31, 2018 Net working capital $ 6.97 Income Statement for 2018 Revenue $ 57.76 Raw materials cost 18.61 Operating cost 20.98 Depreciation 4.39 Pretax income $ 13.78 Tax at 218 Net income $ 10.89 Investment in plant and equipment Less accumulated depreciation Net plant and equipment 70.43 21.12 $ 49.31 2.89 Total assets b. As the table above shows, the plant is carried on Androscoggin's books at $49.31 million. However, it is a modern design, and could be sold to another copper company for $93 million. How should this fact change your calculation of EVA? (Negative answers should be indicated by a minus sign. Enter your answer in millions rounded to 2 decimal places.) Answer is complete but not entirely correct. EVA $ 0.66 million

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