Calculate its return on invested capital

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Reference no: EM13970943

Duval Manufacturing recently reported the following information: Net income $ 640,000 ROA 8% Interest expense $ 192,000 Accounts payable and accruals $950,000 Duval’s tax rate is 35%. Duval finances with only debt and common equity, so it has no preferred stock. 40% of its total invested capital is debt, while 60% of its total invested capital is common equity. Calculate its return on invested capital (ROIC). Round to two decimal places

Reference no: EM13970943

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