What was the return on their $160,000 investment for this financial accounting question? ABC Enterprises purchased a piece of equipment for $180,000. Oneyear later, the company sold the equipment for $200,000. What wasthe return on their $160,000 investment?

Step 1: Define Return on Investment (ROI)Return on Investment (ROI) is a financial metric used to…

Answered: ABC Enterprises purchased a piece of…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 8PA: Referring to PA7 where Kenzie Company purchased a 3-D printer for $450,000, consider how the...

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ABC Enterprises purchased a piece of equipment for $180,000. One year later, the company sold the equipment for $200,000. What was the return on their $160,000 investment?