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Arnold, Inc. has sales of $124,700, cost of goods sold of $102,500, net profit of $9,800, fixed assets of $84,200, and current assets of $8,100.
Arnold, Inc. has sales of $124,700, cost of goods sold of $102,500, net profit of $9,800, fixed assets of $84,200, and current assets of $8,100. What is the total asset turnover rate?
Select one:
a. 1.48
b. 1.35
c. 1.22
d. 1.03
e. 1.11
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