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Timberline Industries had income before interest and taxes of $240,000. Interest expense for the period was $34,000 and income taxes amounted to $57,000. Timberline's

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Timberline Industries had income before interest and taxes of $240,000. Interest expense for the period was $34,000 and income taxes amounted to $57,000. Timberline's return on equity was 10.96%. Timberline's average stockholders' equity was closest to: Multiple Choice $1,980,000 $2,400,000 $3,020,000 $1,360,000

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