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Wagner Company's net income last year was $150,000 and its interest expense was $20,000. Total assets at the beginning of the year were $1,300,000 and
Wagner Company's net income last year was $150,000 and its interest expense was $20,000. Total assets at the beginning of the year were $1,300,000 and total assets at the end of the year were $1,220,000. The company's income tax rate was 30%. The company's return on total assets for the year was closest to:
| 11.9%. | |
| 12.4%. | |
| 13.0%. | |
| 13.5%. |
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