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Over the course of the year, WaterWarp, Inc. increased long-term debt from $2,100 million to $2,300 million and maintained shareholder’s equity at $2,700 million. The company produced $480 million in net income, paid $360 million in interest expense, and had an effective tax rate of 35%. Using the average total capitalization approach, what was the firm’s return on capital?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92712608

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