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Last year Harrington Inc. had sales of $365,000 and a net income of $29,000, and its year-end assets were $270,000. The firm's total-debt-to-total-capital ratio
Last year Harrington Inc. had sales of $365,000 and a net income of $29,000, and its year-end assets were $270,000. The firm's total-debt-to-total-capital ratio was 54.0%. The firm finances using only debt and common equity and its total assets equal total invested capital. Based on the DuPont equation, what was the ROE?
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Financial Management Principles and Applications
Authors: Sheridan Titman, Arthur J. Keown, John H. Martin
13th edition
134417216, 978-0134417509, 013441750X, 978-0134417219
