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find the MVA for 2015 EVA for 2015 Net Fixed Asset for 2014 Net Fixed Asset 2015 Rhodes Corporation: Income Statement for Year Ending December 31 (millions of Dollars) _____________________________________________________2015_______________2014_______ Sales 11,000 10,000 Operating Costs excluding depreciation 9,360 8,500 Depreciation and amortization 380 360 _______ _______ Earnings before interest and taxes 1,260 1,140 Less interest 120 100 ________ ______ Pre-tax income 1,140 1,040 Taxes (40%) 456 416 Net income available to common shareholders 684 624 Common dividends 220 624 Rhodes Corporation: Balance Sheets for Year Ending December 31 (millions of Dollars) ________________________________________________________2015______________2014_______ Assets Cash 550 500 Short term Investment 110 100 Account receivable 2,750 2,500 Inventories 1,650 1,500 Total current assets 5,060 4,600 Net plant and equipment 3,850 3,500 Total assets 8,910 8,100 Labilities and Equity Account payable 1,100 1,000 Accruals 550 500 Notes payable 384 200 Total current liabilities 2,034 1,700 Long-term debt 1,100 1,000 Total liabilities 3,134 2,700 Common stock (120 million shares) 4,312 4,400 Retained earnings 1,464 1,000 Total common equity 5,776 5,400 Total liabilities and equity 8,910 8,100 Price per share 60 55 WACC 12% 12%

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