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Davenport Mills is a division of Iowa Woolen Products, Inc. For the most recent year, Davenport had net income of $19,900,000. Included in income was
Davenport Mills is a division of Iowa Woolen Products, Inc. For the most recent year, Davenport had net income of $19,900,000. Included in income was interest expense of $1,430,000. The operations tax rate is 40 percent. Total assets of Davenport Mills are $231,000,000, current liabilities are $52,800,000, and $36,000,000 of the current liabilities are noninterest bearing. Calculate NOPAT, invested capital, and ROI for Davenport Mills. (Round ROI to 2 decimal places, e.g. 15.25%.)
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