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how to solve Pendant Publishing reported the following results for its Textbook Division: Sales $4,600,000 Operating income $690,000 Total assets $2,000,000 Current liabilities $930,000 Pendant's
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Pendant Publishing reported the following results for its Textbook Division: Sales $4,600,000 Operating income $690,000 Total assets $2,000,000 Current liabilities $930,000 Pendant's target rate of return is 16% and the weighted average cost of capital is 14%. Its effective tax rate is 20%. What is the Textbook Division's sales margin? O A. 20.22% OB. 230.00% OC. 34.50% OD. 15.00% Step by Step Solution
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
8th edition
978-1118953815, 978-1118953907
