Here are simplified financial statements of Phone Corporation from a recent year: INCOME STATEMENT
(Figures in millions of dollars)
Net sales 12,900
Cost of goods sold 3,910
Other expenses 4,132
Depreciation 2,428
Earnings before interest and taxes (EBIT) 2,430
Interest expense 670
Income before tax 1,760
Taxes (at 35%) 616
Net income 1,144
Dividends 846

BALANCE SHEET
(Figures in millions of dollars)
End of Year Start of Year
Assets
Cash and marketable securities 86 155
Receivables 2,232 2,430
Inventories 172 223
Other current assets 852 917
Total current assets 3,342 3,725
Net property, plant, and equipment 19,943 19,885
Other long-term assets 4,186 3,740
Total assets 27,471 27,350
Liabilities and shareholders' equity
Payables 2,534 3,010
Short-term debt 1,404 1,558
Other current liabilities 796 772
Total current liabilities 4,734 5,340
Long-term debt and leases 7,765 7,370
Other long-term liabilities 6,148 6,119
Shareholders' equity 8,824 8,521
Total liabilities and shareholders' equity 27,471 27,350
Phone Corp.'s cost of capital was 8.0%.
What was Phone Corp.'s economic value added? (Enter your answer in millions rounded to 2 decimal places.)