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Bookworks Publishing reported the following results for its Textbook Division: Sales $5,000,000 Operating income $550,000 Total assets $1,000,000 Current liabilities $770,000 Bookworks' target rate of

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Bookworks Publishing reported the following results for its Textbook Division: Sales $5,000,000 Operating income $550,000 Total assets $1,000,000 Current liabilities $770,000 Bookworks' target rate of return is 22% and the weighted average cost of capital is 14%. Its effective tax rate is 20%. What is the Textbook Division's capital turnover? A. 5 B. 1.8 OO C. 9.1 D. 6.5

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