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Frank's Used Cars Has Sales of $807,200, Total Assets of $768,100

Question 53

Multiple Choice

Frank's Used Cars has sales of $807,200, total assets of $768,100, and a profit margin of 6.68 percent. The firm has a total debt ratio of 54 percent. What is the return on equity?


A) 13.09 percent
B) 12.04 percent
C) 11.03 percent
D) 8.56 percent
E) 15.26 percent

Correct Answer:

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