You are analyzing the firm's financial performance based on the following data. Balance sheet items:

You are analyzing the firm's financial performance based on the following data.

Balance sheet items:

   Marketable securities=50,000

   Non-operating long-term assets =20,000

   Cash=120,000

   Accounts receivable=180,000

   Inventory=100,000

   Operating long-term assets (net of depreciation) = 800,000

   Accounts payable=90,000

   Accrued taxes=100,000

   Short-term debt=120,000

   Long-term debt=600,000

   (1,000 par value, 600 bonds)

   Equity=360,000

   (10 book value per share, 36,000 shares)

Market values:

Market value of the marketable securities =50,000

Market value of non-operating long-term assets =25,000

Market value of short-term debt: 120,000

Common stock:

Market price per share: 13.50

Long-term bonds:

Market price per bond: 950

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WACCCOMP = .10

Revenue (Sales) = 500,000

Fixed costs (FC) = 40,000

Variable costs (VC) = 50% of sales

Corporate tax rate = 40%

Depreciation = 55,000

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What is the firm's economic value added (EVA) based on operating capital?

Select one:

a. -$8,600

b. -$8,300

c. -$9,000

d. -$8,000