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A firm had an operating profit margin of 20%, total assets turnover ratio of 5, total liabilities of $150,000, an equity multiplier of 1.5, an
A firm had an operating profit margin of 20%, total assets turnover ratio of 5, total liabilities of $150,000, an equity multiplier of 1.5, an interest expense of $30,000, and a return on common equity of 60%. The firm had never missed any tax payment. What was the firm's tax rate?*
20%
22.50%
25%
75%
None of the above
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