The following table gives abbreviated balance sheets and income statements for Walmart. At the end of fiscal 2017, Walmart had 2,965 million shares outstanding with a share price of $108. 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	$	6,766		$	6,877
Accounts receivable		5,624			5,845
Inventories		43,793			43,056
Other current assets		3,521			1,951
Total current assets	$	59,704		$	57,729
Fixed assets:
Net fixed assets	$	114,828		$	114,188
Other long-term assets		30,050			26,968
Total assets	$	204,582		$	198,885
Liabilities and Shareholders' Equity
Current liabilities:
Accounts payable	$	46,102		$	41,443
Other current liabilities		32,439			25,505
Total current liabilities	$	78,541		$	66,948
Long-term debt		36,835			42,028
Other long-term liabilities		11,317			12,091
Total liabilities	$	126,693		$	121,067
Total shareholders' equity		77,889			77,818
Total liabilities and shareholders equity	$	204,582		$	198,885
Income Statement (figures in $ millions)
Net sales	$	500,353		$	485,883
Cost of goods sold		373,406			361,266
Selling, general, and administrative expenses		95,991			91,783
Depreciation		10,539			10,090
Earnings before interest and taxes (EBIT)	$	20,417		$	22,744
Interest expense		2,188			2,277
Taxable income	$	18,229		$	20,467
Tax		4,600			7,163
Net income	$	13,629		$	13,304
Dividends		6,134			6,705
Addition to retained earnings	$	7,495		$	6,599

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.)