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B ) ROCE = Net income - Preferred Dividends * Average Common Shareholders Equity1 153 - 0 = 1.153Average Common Shareholders Equity = $4 288

B ) ROCE = Net income - Preferred Dividends * Average Common Shareholders Equity1 153 - 0 = 1.153Average Common Shareholders Equity = $4 288 + $4, 0072 = $4 147 51 153 + 4 147 5 = 0 2779 or 27 8%

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