Problem 4-4 Measuring Performance (LO2)

Home Depot entered fiscal 2016 with a total capitalization of $27,222 million. In 2016, debt investors received interest income of $833 million. Net income to shareholders was $6,354 million. (Assume a tax rate of 35%.)

Calculate the economic value added assuming its cost of capital is 10%. (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)