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Mountaintop golf course is planning for the coming season. Investors would like to earn a 12% return on the company's $47,000,000 of assets. The company
Mountaintop golf course is planning for the coming season. Investors would like to earn a 12% return on the company's $47,000,000 of assets. The company primarily incurs fixed costs to groom the greens and fairways. Fixed costs are projected to be $20,000,000 for the golfing season. About 440,000 golfers are expected each year. Variable costs are about $17 per golfer. Mountaintop golf course is a price-taker and won't be able to charge more than its competitors who charge $84 per round of golf. What profit will it earn as a percent of assets? O Profit of 171.03% O Loss of 127.16% O Loss of 20.17% O Profit of 20.17%
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