Miller's Quarter Horse Company has sales of $4,500,000. It also has invested assets of $2,500,000 and operating expenses of $3,800,000. The company has established a minimum rate of return of 7%. Required: (a) What is Miller's profit margin? Round your answer to one decimal place. % (b) What is the investment turnover? Round your answer to one decimal place. (c) What is the rate of return on investment? % (d) What is Miller's residual income? $
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