32. You are trying to value Stanley Motors, a mature auto company. In the most recent year, the company reported $20 million in after-tax operating income on revenues of $1 billion, largely the economy was in a recession. If the average after-tax operating margin for Stanley Motors over the entire economic cycle is 6% and the company has invested capital of $400 million, what normalized return on capital does the company generate? 6R 2%. Q? a. 2% b. 5% c. 6% d. 15% 1300 for You B 400007 13000020 13%