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Lawn Mills is a division of Iowa Woolen Products. For the most recent year, Lawn had net income of $18,800,000. Included in income was interest
Lawn Mills is a division of Iowa Woolen Products. For the most recent year, Lawn had net income of $18,800,000. Included in income was interest expense of $1,316,000. The operation's tax rate is 25 percent. Total assets of Lawn Mills are $220,900,000, current liabilities are $48,880,000, and $33,840,000 of the current liabilities are noninterest bearing.
Calculate NOPAT, invested capital, and ROI for Lawn Mills. (Round ROI to 2 decimal places, e.g. 0.25.)
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