Suppose during 2014 thatFederal Expressreported the following information (in millions): net sales of $34,143 and net income of $94. Its balance sheet also showed total assets at the beginning of the year of $26,220 and total assets at the end of the year of $24,770.

Calculate the asset turnover and return on assets.(Round answers to 2 decimal places, e.g. 6.25 or 17.54%.)

Asset turnover		times
Return on assets		%