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Speedway Mills is a division of Iowa Woolen Products. For the most recent year, Speedway had net income of $19,600,000. Included in income was interest
Speedway Mills is a division of Iowa Woolen Products. For the most recent year, Speedway had net income of $19,600,000. Included in income was interest expense of $1,500,000. The operation's tax rate is 40 percent. Total assets of Speedway Mills are $234,000,000, current liabilities are $51,200,000, and $35,000,000 of the current liabilities are non-interest bearing.
Calculate NOPAT, invested capital, and ROI for Speedway Mills.(Round ROI to 2 decimal places, e.g. 15.25%.)
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