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Cabell Products is a division of a major corporation. Last year the division had total sales of $26,820,000, net operating income of $2,674,320, and average
Cabell Products is a division of a major corporation. Last year the division had total sales of $26,820,000, net operating income of $2,674,320, and average operating assets of $7,500,000. The companys minimum required rate of return is 10%. The divisions turnover is closest to:
a. 10.03
b. 3.58
c. 0.36
d. 3.57
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