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(c) Compute net operating assets (NOA) for 2016. Note, for the balance sheet items of Cisco Systems, non-operating assets include cash and cash equivalents, and

(c) Compute net operating assets (NOA) for 2016. Note, for the balance sheet items of Cisco Systems, non-operating assets include cash and cash equivalents, and investments. Nonoperating liabilities include short-term debt and long-term debt.

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