Question: Says that I got the 30% answer wrong and I also got the number 29.76% and also said that was incorrect. You are considering a
Says that I got the 30% answer wrong and I also got the number 29.76% and also said that was incorrect.

You are considering a stock investment in one of two firms (NoEquity, Inc., and NoDebt, Inc.), both of which operate in the same industry and have identical EBITDA of $38.1 million and operating income of $28.5 million. NoEquity, Inc., finances its $60 million in assets with $59 million in debt (on which it pays 10 percent interest annually) and $1 million in equity. NoDebt, Inc., finances its $60 million in assets with no debt and $60 million in equity. Both firms pay a tax rate of 21 percent on their taxable income. Calculate the net income and return on assets-funders' investmentsfor the two firms. (Enter your dollar answers in millions of dollars. Round "Net income" answers to 3 decimal places and "Return on assets" answers to 2 decimal places.) NoDebt Net income S NoEquity 17.854 million 30.00% $ 22.515 million 37.53 % Return on assets You are considering a stock investment in one of two firms (NoEquity, Inc., and NoDebt, Inc.), both of which operate in the same industry and have identical EBITDA of $38.1 million and operating income of $28.5 million. NoEquity, Inc., finances its $60 million in assets with $59 million in debt (on which it pays 10 percent interest annually) and $1 million in equity. NoDebt, Inc., finances its $60 million in assets with no debt and $60 million in equity. Both firms pay a tax rate of 21 percent on their taxable income. Calculate the net income and return on assets-funders' investmentsfor the two firms. (Enter your dollar answers in millions of dollars. Round "Net income" answers to 3 decimal places and "Return on assets" answers to 2 decimal places.) NoDebt Net income S NoEquity 17.854 million 30.00% $ 22.515 million 37.53 % Return on assets
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