A Company Reports the Following Income Statement and Balance Sheet

A company reports the following income statement and balance sheet information for the current year:
$\begin{array}{|l|r|}\hline \text { Net income } & \$ 180,000 \\\hline \text { Interest expense } & 20,000 \\\hline \text { Average total assets } & 2,000,000\\\hline\end{array}$
Determine the rate earned on total assets.Round your answer to one decimal place.

Correct Answer:

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Rate earned on assets = Net income + Int...

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