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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

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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 30% and the weighted average cost of capital is 5%. Its effective tax rate is 35%. Sales $13,000,000 Operating income 5,850,000 Total assets 4,000,000 Current liabilities 820,000 What is the division's Return on Investment (ROI)? A. 146.25% B. 45.00% C. 20.50% D. 325.00%

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