23 Jul IF THE CHANGES ARE MADE WHAT WILL BE THE COMPANYS RETURN ON EQUITY?
Midwest Packagings ROE last year was only 6%; but its management has developed a new operating plan Show more Midwest Packagings ROE last year was only 6%; but its management has developed a new operating plan that calls for a debt-to-assets ratio of 40% which will result in annual interest charges of $517000. The firm has no plans to use preferred stock. Management projects an EBIT of $1067000 on sales of $11000000 and it expects to have a total assets turnover ratio of 2.4. Under these conditions the tax rate will be 30%. If the changes are made what will be the companys return on equity? Round your answer to two decimal places. Show less
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