Question
Marx Mills is a division of Iowa Woolen Products. For the most recent year, Marx had net income of $22,000,000. Included in income was interest
Marx Mills is a division of Iowa Woolen Products. For the most recent year, Marx had net income of $22,000,000. Included in income was interest expense of $1,540,000. The operations tax rate is 20 percent. Total assets of Marx Mills are $258,500,000, current liabilities are $57,200,000, and $39,600,000 of the current liabilities are noninterest bearing. Calculate NOPAT, invested capital, and ROI for Marx Mills. (Round ROI to 2 decimal places, e.g. 0.25.)
$enter NOPAT in dollars rounded to 0 decimal places
$enter Invested capital in dollars rounded to 0 decimal places
ROI enter the return on investment in dollars rounded to 2 decimal places
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