Multiple Choice
You are considering investing in Totally Tire Services. You have been able to locate the following information on the firm: total assets = $50 million, accounts receivable = $10 million, ACP = 15 days, net income = $4.5 million, and debt-to-equity ratio = 0.75 times. What is the ROE for the firm?
A) 1.58 percent
B) 9.00 percent
C) 15.75 percent
D) 28.81 percent
Correct Answer:
Verified
Correct Answer:
Verified
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