You notice that a company's ROCE has increased between 2021 and 2022. Assuming the company has net financial obligations (NFO), which of the following is NOT a possible cause of the improvement? A. The company's RNOA has improved B. The company has increased its FLEV and it earns a positive SPREAD C. The company's asset turnover has decreased D. The company's net borrowing cost (NBC) has decreased E. The company's profit margin has increased