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The following income statements and other information are available for the Golden Company: 2020 2019 2018 Sales $433,200,000 $285,000,000 $216,600,000 Less cost of goods sold

The following income statements and other information are available for the Golden Company:

2020

2019

2018

Sales

$433,200,000

$285,000,000

$216,600,000

Less cost of goods sold

239,400,000

136,800,000

103,740,000

Gross margin

193,800,000

148,200,000

112,860,000

Less:

Selling and administrative costs

31,350,000

28,215,000

22,321,200

Research and development

13,010,400

14,136,000

10,773,000

Income from operations

149,439,600

105,849,000

79,765,800

Less taxes on income

29,887,920

21,169,800

15,953,160

Net income

$119,551,680

$84,679,200

$63,812,640

Total assets

$815,100,000

$758,100,000

$502,740,000

Noninterest-bearing current liabilities

15,960,000

12,882,000

11,263,200

Cost of capital

12%

12%

12%

Calculate EVA for 2020. Assume that for purposes of calculating EVA, the company capitalizes research and development expenditures and amortizes them over three years, including the year they are incurred. For external reporting purposes, research and development is expensed in the year incurred, as indicated in the income statements above. (Round answer to the nearest whole dollar, e.g. 5,725. Enter negative answers preceding either - sign, e.g. -45 or in parentheses, e.g. (45).)

EVA for 2020 $____ EVA for 2020 in dollars

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