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Rosnan Industries' 2013 and 2012 balance sheets and income statements are shown below. Balance Sheets: 2013 2012 Cash and equivalents $100 $85 Accounts receivable 275

Rosnan Industries' 2013 and 2012 balance sheets and income statements are shown below.

Balance Sheets: 2013 2012 Cash and equivalents $100 $85 Accounts receivable 275 200 Inventories 375 250 Total current assets $750 $635 Net plant and equipment 2,000 1,490 Total assets $2,750 $2,125 Accounts payable $150 $85 Accruals 75 50 Notes payable 150 75 Total current liabilities $375 $210 Long-term debt 450 290 Common stock 1,225 1,225 Retained earnings 700 400 Total liabilities and equity $2,750 $2,125

Income Statements: 2013 2012 Sales $2,000 $1,500 Operating costs excluding depreciation 1,250 1,000 EBITDA $750 $500 Depreciation and amortization 100 75 EBIT $650 $425 Interest 62 45 EBT $588 $380 Taxes (40%) 235 152 Net income $353 $228 Dividends paid $53 $48 Addition to retained earnings $300 $180 Shares outstanding 90 90 Price $25.00 $22.50 WACC 10.00%

Using the financial statements above, what is Rosnan's 2013 market value added (MVA)? Round your answer to the nearest dollar. Do not round intermediate calculations.

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