Question: Begin with the partial model in the file Ch02 P21 Build a Model.xlsx on the textbook's Web site. a. Using the financial statements shown here

Begin with the partial model in the file Ch02 P21 Build a Model.xlsx on the textbook's Web site. a. Using the financial statements shown here for Lan \& Chen Technologies, calculate net operating working capital, total net operating capital, net operating profit after taxes, free cash flow, and return on invested capital for 2020. The federal-plus-state tax rate is 25%. b. Assume there were 15 million shares outstanding at the end of 2019, the yearend closing stock price was $65 per share, and the after-tax cost of capital was 10\%. Calculate EVA and MVA for 2020. Lan \& Chen Technologies: Income Statements for Year Ending December 31 (Millions of Dollars) Lan \& Chen Technologies: December 31 Balance Sheets (Thousands of Dollars)

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