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Return on total assets

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Question 40:

Bramble Company's net income last year was $82,000 and its interest expense was $30,000. Total assets at the beginning of the year were $600,000 and total assets at the end of the year were $740,000. The company's income tax rate was 40%. The company's return on total assets for the year was closest to:

19.7%
17.2%
14.9%
12.2%

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The solution explains how to calculate the return on total assets

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