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TorreyPine golf course is planning for the coming season. Investor would like to earn a 12% return on the company's $45 million of assets. the

TorreyPine golf course is planning for the coming season. Investor would like to earn a 12% return on the company's $45 million of assets. the compnay primarily incur fixed costs to groom the green and fairways. Fixed costs are projected to be $20,000,000 for the golfing season. About $400,000 golfers re expected each year. Variable costs are about 15% per golfer. Torreypine golf course is a price-taker and won't be able to change more than its competition who charge u per round of golf. What profit will it earn as a percent of assets?

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