A market analyst is examining the financial performance of a large pharmaceutical firm, and has assimilated the following information:
Adjusted operating profits before taxes: $26,700,000
Cash operating taxes: $9,000,000
Cost of capital: 14.5% per year
Total capital employed: $127,000,000
Using this information, what is the Economic Value Added for this large pharmaceutical firm? Further, should the management of this Company be considered to have created value for shareholders?