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In January 2007, the Status Quo Company was formed. Total assets were $526,000, of which $364,000 consisted of depreciable fixed assets. Status Quo uses straight-line

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In January 2007, the Status Quo Company was formed. Total assets were $526,000, of which $364,000 consisted of depreciable fixed assets. Status Quo uses straight-line depreciation of $36,400 per year, and in 2007 it estimated its fixed assets to have useful lives of 10 years. Aftertax income has been $27,000 per year for each of the last 10 years. Other assets have not changed since 2007. a. Compute return on assets at year-end for 2007, 2009, 2012, 2014, and 2016. (Use \$27,000 in the numerator for each year.) (Input your answers as a percent rounded to 2 decimal places.) (8) Answer is complete but not entirely correct

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