Williams Manufacturing uses scrap metal to produce various tools, such as drill bits, hammer heads, saw blades, and nails. The CEO

has asked you to analyze the saw blades division to determine asset turnover for last quarter. You find that the saw blades division

had an ROI of $30\%,$ sales of $$12\mathrm{.}00$ million, and operating profits of $$1\mathrm{.}200$ million. What was the asset turnover rate for last quarter?

Asset turnover