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During the current year, Sheffield Corporation expects to produce 9,000 units and has budgeted the following: net income $234,000, variable costs $1,073,000, and fixed costs

During the current year, Sheffield Corporation expects to produce 9,000 units and has budgeted the following: net income $234,000, variable costs $1,073,000, and fixed costs $97,000. It has invested assets of $1,170,000. The companys budgeted ROI was 20%. What was its budgeted markup percentage using a full-cost approach?

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