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Florida Incorporated has sales revenue of $757,000 resulting in net operating income of $90,840. Average invested assets total $381,000, and the cost of capital is

Florida Incorporated has sales revenue of $757,000 resulting in net operating income of $90,840. Average invested assets total $381,000, and the cost of capital is 16%. What is the profit margin? Multiple Choice 12.00% 23.84% 1.99 0.50

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