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Johnson Manufacturing has a return on assets of 7.2 percent, a total asset turnover rate of 2.1, and a debt-equity ratio of 1.4. What is the return on equity? a. 10.08 percent b. 17.28 percent c. 15.12 percent d. 19.44 percent

Johnson Manufacturing has a return on assets of 7.2 percent, a total asset turnover rate of 2.1, and a debt-equity ratio of 1.4. What is the return on equity? a. 10.08 percent b. 17.28 percent c. 15.12 percent d. 19.44 percent

EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter13: Capital Structure Concepts
Section: Chapter Questions
Problem 6P
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Johnson Manufacturing has a return on assets of 7.2 percent, a total asset turnover rate of 2.1, and a debt-equity ratio of 1.4. What is the return on equity? a. 10.08 percent b. 17.28 percent c. 15.12 percent d. 19.44 percent
Transcribed Image Text:Johnson Manufacturing has a return on assets of 7.2 percent, a total asset turnover rate of 2.1, and a debt-equity ratio of 1.4. What is the return on equity? a. 10.08 percent b. 17.28 percent c. 15.12 percent d. 19.44 percent
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