D Question 21 5 pts Grant Communications is forecasting its financial statements for the upcoming year. Highlights include: Current assets of $6 million Current ratio of 2.0 Sales of $20 million Inventory turnover ratio (Sales/Inventory) of 6 The company's CFO is concerned about the forecasted inventory turnover ratio. Her goal is cut inventory enough to obtain an inventory turnover ratio of X, which is the industry average, while still maintaining sales at $20 million. If the company can accomplish this goal, the cash generated from the cut in inventories will be used to cut accounts payable. This will give the firm a Quick Ratio [(Current Assets - Inventory) / Current Liabilities] of 1.60. What is X. the desired inventory turnover ratio? Enter your answer, truncated to 2 decimal places. For example, enter 7.777 as 7.77. 18.76 D Question 22 5 pts For the last fiscal year, your firm reported a return on assets (ROA) of 6.0 percent and a return on equity (ROE) of 15 percent. This was on sales of $36,000,000 and total assets of $30,000,000. Your CFO noted that the difference between the firm's basic earnings power (BEP) and its cost of debt (interest rate on debt is 6.6 percent) amplified ROE handsomely. Assuming a tax rate of 40 percent. calculate your firm's basic earnings power. Note: BEP = EBIT / Total Assets. Enter your answer in decimal format to 4-decimal places. For example, if your answer is 9.55% enter 0.0955. 0.3567