Question 6

Pembina Mills is a division of Iowa Woolen Products. For the most recent year, Pembina had net income of $20,600,000. Included in income was interest expense of $1,310,000. The operation's tax rate is 40 percent. Total assets of Pembina Mills are $234,000,000, current liabilities are $51,200,000, and $37,000,000 of the current liabilities are noninterest bearing.

Calculate NOPAT, invested capital, and ROI for Pembina Mills.(Round ROI to 2 decimal places, e.g. 15.25%.)

NOPAT $_________________

Invested capital $_____________

ROI _______%