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Kragle Corporation reported the following financial data for one of its divisions for the year; average invested assets of $470,000; sales of $930,000; and income

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Kragle Corporation reported the following financial data for one of its divisions for the year; average invested assets of $470,000; sales of $930,000; and income of $105,000. The investment center profit margin is: 22.3%. My friend told me that the answer is 11.3 For me the answer is (105000/470000)*100=22.34 Pls have a look at this pro. and let me know which is correct

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