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Rocky Pines golf course is planning for the coming season. Investors would like to earn a 12% return on the company's $45,000,000 of assets. The
Rocky Pines golf course is planning for the coming season. Investors would like to earn a 12% return on the company's $45,000,000 of assets. The company primarily incurs fixed costs to groom the greens and fairways. Fixed costs are projected to be $24,000,000 for the golfing season. About 400,000 golfers are expected each year. Variable costs are about $16 per golfer. Rocky Pines golf course is a price-taker and won't be able to charge more than its competitors who charge $88 per round of golf. What profit (loss) will it earn as a percent of assets? (Round the percent to two decimal places.) O A. Profit of 148.03% OB. Loss of 10.67% O C. Loss of 127.84% OD. Profit of 10.67%
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