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ABC had Net Operating Profit (before taxes and interest expense) of $1,000 MM; interest expense of $200 MM, a tax rate of 25%, and beginning

ABC had Net Operating Profit (before taxes and interest expense) of $1,000 MM; interest expense of $200 MM, a tax rate of 25%, and beginning of year long term operating assets of $4,000 MM; net working capital of $1,0000; and long term debt of $2,000. What was ABC's Return on Invested Capital for the year?

33.3%

20%

15%

25%

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