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Exercise 12-7 Springfield Mills is a division of Iowa Woolen Products. For the most recent year, Springfield had net income of $19,100,000. Included in income
Exercise 12-7 Springfield Mills is a division of Iowa Woolen Products. For the most recent year, Springfield had net income of $19,100,000. Included in income was interest expense of $1,470,000. The operation's tax rate is 40 percent. Total assets of Springfield Mills are $234,000,000, current liabilities are $52,800,000, and $35,000,000 of the current liabilities are noninterest bearing. Calculate NOPAT, invested capital, and ROI for Springfield Mills. (Round ROI to 2 decimal places, e.g. 15.25%.) NOPAT Invested capital ROI
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