Arlington Corporation's financial statements (dollars and sharesare in millions) are provided here.

Balance Sheetsas of December 31
	2016		2015
Assets
Cash and equivalents	$  14,000		$  12,000
Accounts receivable	35,000		30,000
Inventories	32,135		29,000
Total currentassets	$ 81,135		$ 71,000
Net plant and equipment	53,000		49,000
Total assets	$134,135		$120,000
Liabilities andEquity
Accounts payable	$ 10,200		$  9,500
Accruals	8,000		6,000
Notes payable	6,900		5,300
Total currentliabilities	$ 25,100		$ 20,800
Long-term bonds	15,000		15,000
Total liabilities	$ 40,100		$ 35,800
Common stock (4,000 shares)	50,000		50,000
Retained earnings	44,035		34,200
Common equity	$ 94,035		$ 84,200
Total liabilities and equity	$134,135		$120,000

IncomeStatement for Year Ending December 31, 2016
Sales	$208,000
Operating costs excludingdepreciation and amortization	160,000
EBITDA	$ 48,000
Depreciation &amortization	6,000
EBIT	$ 42,000
Interest	6,250
EBT	$ 35,750
Taxes (40%)	14,300
Net income	$ 21,450
Dividends paid	11,615

Enter your answers in millions. For example, an answer of$25,000,000,000 should be entered as 25,000.

What was net operating working capital for 2015 and 2016?

2015	$    million
2016	$    million

What was Arlington's 2016 free cash flow?

$    million

Construct Arlington's 2016 statement of stockholders'equity.

	CommonStock		Retained Earnings	TotalStockholders' Equity
	Shares	Amount
Balances, 12/31/15	million	$    million	$    million	$    million
2016 Net Income			million
Cash Dividends			million
Addition to retained earnings				million
Balances, 12/31/16	million	$    million	$    million	$    million

What was Arlington's 2016 EVA? Assume that its after-tax cost ofcapital is 10%. Round your answer to two decimal places.

$    million

What was Arlington's MVA at year-end 2016? Assume that its stockprice at December 31, 2016 was $25.