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Oak Lawn, Inc. has been provided by its lenders and owners with $46,000,000 to purchase assets. The most recent income statement showed Earnings Before Interest

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Oak Lawn, Inc. has been provided by its lenders and owners with $46,000,000 to purchase assets. The most recent income statement showed Earnings Before Interest and Taxes (EBIT, or Operating Income) of $8,800,000, and net income of $4,850,000. Income tax is paid at a 22% combined state plus federal average annual rate. What was Return on invested Capital (ROIC) for the year? A. 10.543% B.4.2099 C. 14.922% D. 8.224% E. 23.146%

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