Rhodes Corporation: Income Statements for Year Ending December 31 (Millions of Dollars) 2018 2017 Sales $6,050.0 $5,500.0 Operating costs excluding depreciation 4,840.0 4,675.0 Depreciation and amortization 165.0 132.0 Earnings before interest and taxes $1,045.0 $693.0 Less Interest 130.0 118.0 Pre-tax income $915.0 $575.0 Taxes (40%) 366.0 230.0 Net income available to common stockholders $549.0 $345.0 Common dividends $494.0 $276.0 Rhodes Corporation: Balance Sheets as of December 31 (Millions of Dollars) 2018 2017 Assets $76.0 Cash Short-term investments Accounts receivable $66.0 28.0 31.0 Inventories Total current assets Net plant and equipment Total assets Liabilities and Equity 949.0 1,518.0 $2,574.0 1,650.0 $4,224.0 825.0 1,320.0 $2,239.0 1,320.0 $3,559.0 2018 2017 Assets Cash $76.0 $66.0 Short-term investments 31.0 28.0 Accounts receivable 949.0 825.0 Inventories 1,518.0 1,320.0 Total current assets $2,574.0 $2,239.0 Net plant and equipment 1,650.0 1,320.0 Total assets $4,224.0 $3,559.0 Liabilities and Equity Accounts payable $363.0 $330.0 Accruals 396.0 330.0 Notes payable 121.0 110.0 Total current liabilities $880.0 $770.0 Long-term debt 1,210.0 1,100.0 Total liabilities $2,090,0 $1,870.0 Common stock 1,975.0 1,585.0 Retained earnings 159.0 104.0 Total common equity $2,134.0 $1,689.0 Total liabilities and equity $4,224.0 $3,559.0 Using Rhodes Corporation's financial statements (shown above), answer the following questions. e. What is the ROIC for 2018? Round your answer to two decimal places. %