Herring Corporation has operating income of $275,000 and a 25% tax rate.The firm has short-term debt of $143,000,long-term debt of $323,000,and common equity of $466,000.What is its return on invested capital?
A) 20.88%
B) 21.46%
C) 22.13%
D) 23.38%
E) 24.23%

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The Answer of Herring Corporation has operating income of $275,000 and a 25% tax rate.The firm has short-term debt of $143,000,long-term debt of $323,000,and common equity of $466,000.What is its return on invested capital?
A) 20.88%
B) 21.46%
C) 22.13%
D) 23.38%
E) 24.23%

Herring Corporation Has Operating Income of $275,000 and a 25