Fortune Star Inc. has a net profit margin of 12%, an equity multiplier (i.e., asset to equity

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Fortune Star Inc. has a net profit margin of 12%, an equity multiplier (i.e., asset to equity ratio) of 2, sales of $575,000 and a ROE of 17%. What is Fortune Star's total asset turnover?
a.2.1654
b.3.4081
c.1.7083
d.0.7083
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Contemporary Financial Management

ISBN: 9780324289114

10th Edition

Authors: James R Mcguigan, R Charles Moyer, William J Kretlow

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