Question: the provided answer is wrong Consider the following financlal data from the past year for Midwest Outdoor Equipment Corporation. The Midwest Outdoor Equipment Corporation has
Consider the following financlal data from the past year for Midwest Outdoor Equipment Corporation. The Midwest Outdoor Equipment Corporation has entered into a new contract with a major supplier of raw materials used in the manufacturing process. Under the new arrangement, called vendor managed imventory, the supplier manages its raw material inventory inside the manufacturer's plant and bills only the manufacturer when the manufacturer consumes the raw material. This is expected to reduce total assets by $2 million. What is the expected change in rerurn on assets? (Round your answer to 2 decimal ploces.)
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