FedEx and UPS: Fbxed asset turnover ratio FedEx Corporation and United Parcel Service, Inc. compete In the package delivery business. The major fixed assets for each business include aircraft, sorting and handling facilities, delivery vehicles, and Information technology. The sales and average book value of flxed assets reported on recent financial statements for each company were as follows: FedEx UPS Sales (in millions) $45,567 $55,438 Average book value of fixed assets (in millions) 19,017 17,927 a. Compute the fixed asset turnover ratio for each company. (Round to one decimal place.) FedEx: UPS: b. Which company appears more efficient in using fixed assets? C. Interpret the meaning of the foxed asset turnover ratio