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A small home-based business has total assets of $ 1,000,000. Current assets represent around 40% of the total assets and current liabilities represent 50% of

A small home-based business has total assets of $ 1,000,000. Current assets represent around 40% of the total assets and current liabilities represent 50% of current assets. The cost of goods sold works out to $ 480,000 and the Gross Margin is 20%. The firm makes a net profit of $300,000. What would be the company's working capital turnover?

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