Nichols Products has

$50

million of sales and

$8

million of net income. Its total assets are

$120

million. Assume Accounts Payable is

$8

million, Accruals is

$3

million, and Notes Payable is

$9

million. The firm's capital structure consists of

24%

debt and

76%

common equity. The firm's interest expense is

$1

million, and the firm's tax rate is

21%

. What is the firm's ROIC?

Nichols Products has $50 million of sales and $8 million of net income. Its total assets are $120 million. Assume Accounts Payable is $8 million, Accruals is $3 million, and Notes Payable is $9 million. The firm's capital structure consists of 24% debt and 76% common equity. The firm's interest expense is $1 million, and the firm's tax rate is 21%. What is the firm's ROIC? Nichols Products has $50 million of sales and $8 million of net income. Its total assets are $120 million. Assume Accounts Payable is $8 million, Accruals is $3 million, and Notes Payable is $9 million. The firm's capital structure consists of 24% debt and 76% common equity. The firm's interest expense is $1 million, and the firm's tax rate is 21%. What is the firm's ROIC