Question: Problem 3-25 Profit Margin [LO 3] PXG Co. has total assets of $10,000,000 and a total asset turnover of 2.5 times. Assume the return on

Problem 3-25 Profit Margin [LO 3] PXG Co. has total assets

Problem 3-25 Profit Margin [LO 3] PXG Co. has total assets of $10,000,000 and a total asset turnover of 2.5 times. Assume the return on assets is 12 percent. What is its profit margin? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Profit margin

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