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NOA=Net operating assets NFO = Net financial obligations NBC = Net borrowing costs You are given the following information: 20X2 20X1 Operating $550 Income $620

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NOA=Net operating assets

NFO = Net financial obligations

NBC = Net borrowing costs

You are given the following information: 20X2 20X1 Operating $550 Income $620 NOA 2200 2350 NFO 1300 1400 NBC 3.5% 4% Based on the information, show the analysis of changes in return on equity given the financing effects for 20x2. Explain properly

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