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Florida Incorporated has sales revenue of $1,583,400 resulting in net operating income of $205,842. Average invested assets total $377,000, and the cost of capital is

Florida Incorporated has sales revenue of $1,583,400 resulting in net operating income of $205,842. Average invested assets total $377,000, and the cost of capital is 12%. What is the investment turnover?

Multiple Choice

54.60%

13.00%

0.24

4.20

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