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Assume the Hiking Shoes division of the All About Shoes Corporation had the following results...

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Accounting

Assume the Hiking Shoes division of the All About Shoes Corporation had the following results last year (in thousands). Management's target rate of return is 15% and the weighted average cost of capital is 5%. Its effective tax rate is 35%. Sales $ 15 comma 000 comma 000 Operating income 3 comma 000 comma 000 Total assets 4 comma 000 comma 000 Current liabilities 850 comma 000 What is the division's Return on Investment (ROI)?

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