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Assume the Hiking Shoes division of the All About Shoes Corporation had the following results last year (in thousands). Management's target rate of return is

Assume the Hiking Shoes division of the All About Shoes Corporation had the following results last year (in thousands). Management's target rate of return is 15% and the weighted average cost of capital is 5%. Its effective tax rate is 35%. Sales $ 15 comma 000 comma 000 Operating income 3 comma 000 comma 000 Total assets 4 comma 000 comma 000 Current liabilities 850 comma 000 What is the division's Return on Investment (ROI)?

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