Turner Corporation, whose tax rate is 30%, has two sources o…
Turner Corporation, whose tax rate is 30%, has two sources of funds: long-term debt with a market value of $8,400,000 and an interest rate of 8%, and equity capital with a market value of $14,000,000 that commands a 7-point premium. Turner has two operating divisions, the Williams division and the Hopkins division, with the following financial measures for the current year: Williams Division $9,500,000 $1,059,000 Hopkins Division $12,900,000 $1,200,000 What is Economic Value Added (EVA) for the Williams Division? (Round intermediary calculations to three decimal places.)