The following income statements and other information are available for the Schneider Company.

Calculate EVA for 2014. 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. MUST CALCULATE NOPAT OF ALL 3 YEARS.

Exercise 12-13 The following income statements and other information are available for the Schneider Company: 2013 2012 2014 Sales $371,100,000 $241,400,000 $187,000,000 Less cost of goods sold 204,105,000 115,872,000 89,760,000 166,995,000 125,528,000 97,240,000 Gross margin Less Selling and administrative costs 25,977,000 24,140,000 18,700,000 Research and development 14,844,000 12,070,000 9,350,000 Income from operations 126,174,000 89,318,000 69,190,000 Less taxes on income 37,852,200 26,795,400 20,757,000 Net income $88,321,800 $62,522,600 $48,433,000 Total assets $711,100,000 $668,200,000 $433,400,000 Noninterest-bearing current liabilities 137,500,000 11,470,000 98,570,000 Cost of capital 12% 12% 12% Calculate EVA for 2014. 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.) EVA for 2014