Question:A company wants to increase its rate of return on assets from 8 percent to 14 percent. It is believed that the firm's total assets turnover of .667 cannot be easily increased at the present time. What must the profit margin percentage be to achieve the desired 14 percent rate of return on assets?
A 7 percent
B 14 percent
C 21 percent
D 28 percent
+ AnswerC
+ Explanation
+ Report
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