Eastman Company reports the following ($ millions): net sales of $13,557 for 2005 and $12,670 for 2004;

Question:

Eastman Company reports the following ($ millions): net sales of $13,557 for 2005 and $12,670 for 2004; end-of-year total assets of $14,968 for 2005 and $18,810 for 2004. Compute its total asset turnover for 2005 and assess its level if competitors average a total asset turnover of 2.0 times.

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