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Home Q & A Board Other Fields Homework Help Business Accounting
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8 years ago
Grady Corporation provides the following financial information:

Minimum acceptable operating income   $556,600
Average total assets   $2,000,000
Operating income   $708,000
Return on investment   35.40%
Net sales   $900,000

Calculate the target rate of return. (Round your answer to two decimal places.)
A) 35.40%
B) 27.83%
C) 78.67%
D) 61.84%
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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8 years ago
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#2
8 years ago
Makes perfect sense, thx
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