The following table gives abbreviated balance sheets and income statements for Walmart. At the end of fiscal 2017, Walmart had 3,055 million shares outstanding with a share price of $144. The company's weighted-average cost of capital was about 5%. Assume a tax rate of 35%.

Balance Sheet (figures in $ millions)
	End of Year			Start of Year
Assets
Current assets:
Cash and marketable securities	$	6,946		$	7,057
Accounts receivable		5,804			6,025
Inventories		43,973			43,236
Other current assets		3,701			2,131
Total current assets	$	60,424		$	58,449
Fixed assets:
Net fixed assets	$	115,008		$	114,368
Other long-term assets		30,230			27,148
Total assets	$	205,662		$	199,965
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable	$	46,282		$	41,623
Other current liabilities		32,619			25,685
Total current liabilities	$	78,901		$	67,308
Long-term debt		37,015			42,208
Other long-term liabilities		11,497			12,271
Total liabilities	$	127,413		$	121,787
Total shareholders' equity		78,249			78,178
Total liabilities and shareholders equity	$	205,662		$	199,965
Income Statement (figures in $ millions)
Net sales	$	500,533		$	486,063
Cost of goods sold		373,586			361,446
Selling, general, and administrative expenses		96,171			91,963
Depreciation		10,719			10,270
Earnings before interest and taxes (EBIT)	$	20,057		$	22,384
Interest expense		2,368			2,457
Taxable income	$	17,689		$	19,927
Tax		4,600			6,974
Net income	$	13,089		$	12,953
Dividends		6,314			6,885
Addition to retained earnings	$	6,775		$	6,068

a. Calculate the market value added. (Do not round intermediate calculations. Enter your answer in millions rounded to nearest whole number.)

b. Calculate the market-to-book ratio. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

c. Calculate the economic value added. (Do not round intermediate calculations. Enter your answer in millions rounded to nearest whole number.)

d. Calculate the return on start-of-the-year capital. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)