Wal-Mart Stores, Inc. in 2014 reported net income of $16.4 billion, net sales of $482.2 billion, and

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Wal-Mart Stores, Inc. in 2014 reported net income of

$16.4 billion, net sales of $482.2 billion, and average total assets of $204.2 billion. What is Wal-Mart’s asset turnover? What is Wal-Mart’s return on assets?

*29. What is a modified accelerated cost recovery system

(MACRS)? Speculate as to why this system is now required for tax purposes.

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