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Herring Corporation Has Operating Income of $270,000 and a 40

Question 37

Multiple Choice

Herring Corporation has operating income of $270,000 and a 40% tax rate.The firm has short-term debt of $119,000,long-term debt of $316,000,and common equity of $435,000.What is its return on invested capital?


A) 17.37%
B) 17.95%
C) 18.62%
D) 19.87%
E) 20.72%

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