Lumber division of Hogan Inc. reported an investment turnover of 1.28 and a return on investment of 21.76%. Compute the profit margin for Hogan. (round the percentage to two decimal points. E.g., 10.52%). Group of answer choices 580.00% 170.00% 5.88% 17.00%

Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter10: Evaluating Decentralized Operations
Section: Chapter Questions
Problem 4BE: Profit margin, investment turnover, and ROI Briggs Company has operating income of 36,000, invested...
Question

Lumber division of Hogan Inc. reported an investment turnover of 1.28 and a return on investment of 21.76%.

Compute the profit margin for Hogan. (round the percentage to two decimal points. E.g., 10.52%).

Group of answer choices
580.00%
170.00%
5.88%
17.00%
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