10 Nichols Products has $50 million of sales and $8 million of net income. Its total assets are $120 million. Assume Accounts Payable is $8 million, Accruals is $3 million, and Notes Payable is $9 million. The firm's capital structure consists of 24% debt and 76% common equity. The firm's interest expense is $1 million, and, the firm's tax rate is 21%. What is the firm's ROIC? a. 6.67 percent b. 7.01 percent c. 7.33 percent d. 7.92 percent e. 8.06 percent

0 Nichols Products has $50 million of sales and $8 million of net income. Its total assets are $120 million. Assume Accounts Payable is \$8 million, Accruals is $3 million, and Notes Payable is $9 million. The firm's capital structure consists of 24% debt and 76% common equity. The firm's interest expense is \$1 million. and the firm's tax rate is 21%. What is the firm's ROIC? a. 6.67 percent b. 7.01 percent c. 7.33 percent d. 7.92 percent e. 8.06 percent 80200000