Castle Corp. generated $2 million in operating incomefrom sales of $20 million d

Castle Corp. generated $2 million in operating incomefrom sales of $20 million during the latest fiscal year. The firmsinterest expense was $500000 and the corporate income tax ratewas 40%. Investors require a rate of return of 18%. Using thedependence hypothesis approach to valuation what is the marketvalue of Castle?