Cost of goods

Cost of goods
QUESTION :

 Categories
Values
 Sales
$
50,800,000
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Cost of goods sold
$
25,400,000
Â
Variable expenses
$
8,350,000
Â
 Fixed expenses
$
8,420,000
Â
Inventory
$
6,210,000
Â
 Accounts receivable
$
3,280,000

 Other current assets
$
4,280,000

 Fixed assets
$
24,000,000

1.607
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Â
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The managers of the firm claim that the return on net worth for the firm is 60.4. If the return on assets is 22.85%, then what financialleverage is required to achieve this return? (Round your answer to 2 decimal places.)
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 Financial leverage

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