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Pendant Publishing reported the following results for its Textbook Division: Sales $ 4 comma 200 comma 000 Operating income $ 840 comma 000 Total assets
Pendant Publishing reported the following results for its Textbook Division: Sales $ 4 comma 200 comma 000 Operating income $ 840 comma 000 Total assets $ 1 comma 500 comma 000 Current liabilities $ 990 comma 000 Pendant's target rate of return is 18% and the weighted average cost of capital is 13%. Its effective tax rate is 35%. What is the Textbook Division's Return on Investment (ROI)? A. 56.00% B. 23.57% C. 280.00% D. 20.00%
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