Shaft Mining Ltd is a mining contractor with ten autonomous divisions operating in various copper mines in Copperbelt and North$-$Western provinces of Zambia. The cost of capital for the group is $12\%$ per annum and is currently earning $15\%$ on its capital employed.

In the ROCE calculation, return is equated with net profit and capital employed figure at the beginning of the financial year. All fixed assets are depreciated on a straight$-$line basis. Investments in new projects include incremental working capital. Projects sold or withdrawn from operation are treated as consisting of fixed assets only.

If no new expenditure transactions take place the position of four of the divisions would be:

$\backslash$table$[[$Division$,\backslash$table$[[$Capital employed as$],[$at $1$ January $2024]],$Net profit,$\backslash$table$[[$Budgeted for $2024],[$Sales$]]],[,K^{\text{'}}000,K^{\text{'}}000,K^{\text{'}}000$