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Herring Corporation has operating income of $275,000 and a 25% tax rate. The firm has short- term debt of $143,000, long-term debt of $323,000, and

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Herring Corporation has operating income of $275,000 and a 25% tax rate. The firm has short- term debt of $143,000, long-term debt of $323,000, and common equity of $466,000. What is its return on invested capital? O 21.46% 22.13% 0 20.88% O 23.38% O 24.23%

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