Rose Bricks balance sheet lists net fixed assets as $40 million. The fixed assets could currently be sold for $55 million. Rose Brick's current balance sheet shows current liabilities of $15 million and net working capital of $12 million. If all the current accounts were liquidated today, the company would receive $77 million cash after paying $15 million in liabilities.

Use Exhibit 2. What is the book value of Rose Brick's assets today? A. $137 million

B. $67 million

C. $40 million

D. $27 million

E. $12 million

Use Exhibit 2. What is the market value of Rose Brick's assets today? A. $147 million

B. $137 million

C. $92 million

D. $77 million

E. $67 million

Maplenut Bakery, Inc. had gross profit of 892,600, EBIT of $458,100, interest expense of $83,680 and net income of $279,200 in 2013. If EBT is taxable income, what is the firm's average tax rate in 2013? A. 34.1%

B. 29.9%

C. 27.1%

D. 25.4%