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Assume Meyer Corporation is 100 percent equity financed. Calculate the return on asset, given the following information: (1) Earnings before taxes = $1,500 (2) Sales

Assume Meyer Corporation is 100 percent equity financed. Calculate the return on asset, given the following information:

(1) Earnings before taxes = $1,500

(2) Sales = $5,000

(3) Dividend payout ratio = 60%

(4) Total assets turnover = 2.0

(5) Applicable tax rate = 30%

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