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29. Calculate ROIC S4 P92 Chapter MC, Section 04, Problem 092 Herring Corporation has operating income of $265,000 and a 25% tax rate. The firm

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29. Calculate ROIC S4 P92 Chapter MC, Section 04, Problem 092 Herring Corporation has operating income of $265,000 and a 25% tax rate. The firm has short-term debt of $110,000, long-term debt of $439,000, and common equity of $549,000. What is its return on invested capital? a. 19.42% b. 21.65% C. 18.57% d. 16.07% e. 16.659 16.65% 16.07% 21.659 16.10 19.42

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