The following presents the balance sheet for Firm K, along with information from the income statement. Calculate the ROIC if the tax rate is 25%.

Total Assets: 2,000

Current Assets: 600

Revenue: 3,500

Cash: 100

COGS: 2100

Receivables: 200

EBIT: 800

Inventory: 300

Net Income: 200

Noncurrent Assets: 1,400

Net PP&E: 1,100

Other NCA: 300

Total Liabilities: 1,500

Current Liabilities: 700

Current Debt: 250

Payables: 300

Accruals: 150

Noncurrent Liabilities: 800

Long Term Debt: 800

Total Equity: 500

Common Stock 400

Retained Earnings 100

Answer choices:

46.2%

40.0%

30.0%

38.7%