The Following Data Relates to the Miracle Corporation and Its

question 1

Multiple Choice

The following data relates to the Miracle Corporation and its Toy Division. $$\begin{array} { | l | r | } \hline \text { Toy Division sales } & \$ 8,000,000 \\\hline \text { Toy Division aperating income } & \$ 480,000 \\\hline \text { Toy Division total assets } & \$ 2,000,000 \\\hline \text { Toy Division current liabilities } & \$ \text { 600,000 } \\\hline \text { Corporate target rate of return } & 14 \% \\\hline \text { Corporate weighted average cost of capital } & 10 \% \\\hline \text { Corporate effective tax rate } & 30 \% \\\hline\end{array}$$

- What is the Toy Division's capital turnover?

• A)3.3
• B)4.0
• C)4.2
• D)16.7

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