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A firm has a taxable income of $500,fixed assets of $3,040, and current assets of $1,550. The firm has $440 in inventory. Also, the firm

A firm has a taxable income of $500,fixed assets of $3,040, and current assets of $1,550. The firm has $440 in inventory. Also, the firm reports $1,200 in sales. The tax rate is 21%.

Find the firm’s profit margin and return on assets.

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