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problem: A company had a net income of USD 76,000 in 2007 and USD 88,000 in 2008. Its net sales were USD 640,000 in 2007 and USD 611,000 in 2008. Its average total assets in 2007 were USD 670,000 and USD 712,000 in 2008. Compute the profit margin, total asset turnover and return on total assets for both years. Show all work to receive full credit.

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