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The West Division of Cecchetti Corporation had average operating assets of $643,000 and net operating income of $100,000 in August. The minimum required rate of return for performance evaluation purposes is 18%. What was the West Division's minimum required return in August?

The West Division of Cecchetti Corporation had average operating assets of $643,000 and net operating income of $100,000 in August. The minimum required rate of return for performance evaluation purposes is 18%. What was the West Division's minimum required return in August?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The West Division of Cecchetti Corporation had average operating assets of $643,000 and net operating income of $100,000 in August. The minimum required rate of return for performance evaluation purposes is 18%. What was the West Division's minimum required return in August?
Transcribed Image Text:The West Division of Cecchetti Corporation had average operating assets of $643,000 and net operating income of $100,000 in August. The minimum required rate of return for performance evaluation purposes is 18%. What was the West Division's minimum required return in August?
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