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20. Duffert Industries has total assets of $1,040,000 and total current liabilities (consisting only of accounts payable and accruals) of $105,000. Duffert finances using only

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20. Duffert Industries has total assets of $1,040,000 and total current liabilities (consisting only of accounts payable and accruals) of $105,000. Duffert finances using only long-term debt and common equity. The tax rate is 25%. The firm's basic earning power ratio is 13%. What is Duffert's ROIC? Do not round your intermediate calculations

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