Baker Industries net income is $24,000, its interest expense is $5,000, and its tax rate is 40%.
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Baker Industries’ net income is $24,000, its interest expense is $5,000, and its tax rate is 40%. Its notes payable equals $27,000, long-term debt equals $75,000, and common equity equals $250,000. The firm finances with only debt and common equity, so it has no preferred stock. What are the firm’s ROE and ROIC? Round your answers to two decimal places. Do not round intermediate calculations.r
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Related Book For
Advanced Accounting
ISBN: 978-0538480284
11th edition
Authors: Paul M. Fischer, William J. Tayler, Rita H. Cheng
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