In$2016,$ the Allen Corporation had sales of $$68$million$,$ total assets of $$50$million$,$ and total liabilities of $$20$ million. The interest rate on the$$ company's debt is $6\mathrm{.}2$percent$,$ and its tax rate is $35$ percent. The operating profit margin is $14$ percent.

a$.$ Compute the$$ firm's $2016$ net operating income and net income.

b$.$ Calculate the$$ firm's operating return on assets and return on equity.$($Hint: You can assume that interest must be paid on all of the$$ firm's liabilities.$)$

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Part $1$

a$.$ Compute the$$ firm's $2016$ net operating income and net income.

The$$ firm's $2016$ net operating income is $$$enter your response here million. $($Round to two decimal$$ places.$)$