The Central Division of Chemical Company has a return on investment of 20% and an investment turnover of 1.95. What is the profit margin? Round the percentage to two decimal places. a.15.38% b.12.31% c.8.21% d.10.26%

Managerial Accounting
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ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
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Chapter10: Evaluating Decentralized Operations
Section: Chapter Questions
Problem 4BE: Profit margin, investment turnover, and ROI Briggs Company has operating income of 36,000, invested...
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The Central Division of Chemical Company has a return on investment of 20% and an investment turnover of 1.95. What is the profit margin? Round the percentage to two decimal places.

a.15.38%
b.12.31%
c.8.21%
d.10.26%
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