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Reliable Cars has sales of $3,990, total assets of $3,250, and a profit margin of 5 percent. The firm has a total debt ratio of 41 percent. What is the return on equity? a. 6.14 percent b. 8.47 percent c. 12.20 percent d. 14.97 percent e. 10.40 percent

Reliable Cars has sales of $3,990, total assets of $3,250, and a profit margin of 5 percent. The firm has a total debt ratio of 41 percent. What is the return on equity? a. 6.14 percent b. 8.47 percent c. 12.20 percent d. 14.97 percent e. 10.40 percent

Intermediate Financial Management (MindTap Course List)
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter7: Analysis Of Financial Statements
Section: Chapter Questions
Problem 6P
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Reliable Cars has sales of $3,990, total assets of $3,250, and a profit margin of 5 percent. The firm has a total debt ratio of 41 percent. What is the return on equity? a. 6.14 percent b. 8.47 percent c. 12.20 percent d. 14.97 percent e. 10.40 percent
Transcribed Image Text:Reliable Cars has sales of $3,990, total assets of $3,250, and a profit margin of 5 percent. The firm has a total debt ratio of 41 percent. What is the return on equity? a. 6.14 percent b. 8.47 percent c. 12.20 percent d. 14.97 percent e. 10.40 percent
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