A retailer has a net profit of $1,000,000,total assets of $12,000,000,a 2.5 asset turnover ratio,and a net worth of $5,000,000.What is its financial leverage ratio?
A) .083 times
B) .500 times
C) 2.00 times
D) 2.40 times
E) 4.80 times
Correct Answer:
Verified
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