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Use the following information for the Lowell, Inc. for this and the next seven questions. Sales $200,000 Debt 95,000 Dividends 5,000 Equity 40,000 Interest rate

Use the following information for the Lowell, Inc. for this and the next seven questions.

Sales $200,000
Debt 95,000
Dividends 5,000
Equity 40,000
Interest rate 7%
Net income 16,000
Tax rate 30%

What is the companys return on invested capital (ROIC)?

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