Multiple Choice
Recently Old Forge Company reported that it had earned a profit margin of 20% on sales of $10 million. Its net assets totaling $25 million were financed by equal amounts of debt and equity. What return on equity did Old Forge earn?
A) 16%
B) 8%
C) 40%
D) 20%
Correct Answer:
Verified
Correct Answer:
Verified
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