Herring Corporation Has Operating Income of $225,000 and a 40

question 21

Multiple Choice

Herring Corporation has operating income of $225,000 and a 40% tax rate.The firm has short-term debt of $120,000,long-term debt of $330,000,and common equity of $450,000.What is its return on invested capital?

• A)13.75%
• B)14.33%
• C)15.00%
• D)16.25%
• E)17.10%

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