The Gabriel Packaging Company, Inc. currently has sales of $5,000,000, cost of goods sold amount...
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The Gabriel Packaging Company, Inc. currently has sales of $5,000,000, cost of goods sold amount to 80% of sales, and the firm is in the 30% tax bracket. It the firm has $600,000 in gross fixed assets, $100,000 in accumulated depreciation, and took $10,000 in depreciation expense write-offs this year, the firm's fixed asset turnover ratio can be calculated as
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