reading 33: EVA same as Residual income using NOPAT and WACC

CFA Level II
#1

The formula for Economic Value added is NOPAT-(WACC*Total Capital)

Is this the same formula as Residual income usisng a pre levered figure?

RI= NOPAT-(WACC*Total Capital)= EBIT(1-T)- (WACC* Total Capital)

#2

It is same formula. NOPAT = EBIT (1-T). Total capital means all invested capital, own and borrowings. EVA will be reached if return on invested capital is above WACC. Thus only projects which will bring EVA will benefit shareholders.