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Tropic Corp. has sales revenue of $503,000 resulting in operating income of $60,000. Average invested assets total $606,000, and the cost of capital is 6%.
Tropic Corp. has sales revenue of $503,000 resulting in operating income of $60,000. Average invested assets total $606,000, and the cost of capital is 6%. Calculate the return on investment if sales increase by 10% and the profit margin and invested assets remain the same. (Round your intermediate calculations and final answers to 2 decimal places.)
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