Use the Table for the Question(s)below

question 99

Multiple Choice

Use the table for the question(s) below.
Consider the following balance sheet:
-Luther Corporation's stock price is $39 per share and the company has 20 million shares outstanding.Its excess cash in 2019 is $23.4.If EBIT is $41.2 million and tax rate is 21%,its Return on Invested Capital in 2019 is closest to:

• A)0.104.
• B)0.064.
• C)0.038.
• D)0.083.

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