Answer:
a.
Explanation:
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The shareholders elect the board of directors.
Answer:
$61,640,000
Explanation:
Earning before tax:
= Net income ÷ 60%
= $148,000,000 ÷ 60%
= $246,666,667
EBIT:
= Earning before tax + Interest expense
= $246,666,667 + $46,000,000
= $292,666,667
EVA:
= EBIT(1 - t) - (Capital employed × cost of capital)
= $292,666,667(1 - 0.4) - ($1,036,000,000 × 11%)
= $175,600,000 - 113,960,000
= $61,640,000
