3. In fiscal year 2020 Chevron (CVX) had revenue of $140 billion, net income of...
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3. In fiscal year 2020 Chevron (CVX) had revenue of $140 billion, net income of $2.9 billion, and year-end total assets of $237.5 billion. The firms total-debt-to-total-capital ratio was 35%. The firm finances using only debt and common equity and its total assets equal total invested capital. Based on the DuPont equation, what was the ROE?
3. In fiscal year 2020 Chevron (CVX) had revenue of $140 billion, net income of $2.9 billion,
and year-end total assets of $237.5 billion. The firms total-debt-to-total-capital ratio was
35%. The firm finances using only debt and common equity and its total assets equal total
invested capital. Based on the DuPont equation, what was the ROE?
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