Tibbs Inc. had the following data for the most recent year: Net income = $300; Net operating profit after taxes (NOPAT) = $220; Total assets = $2,500; Short-term investments = $200; Stockholders' equity = $1,800; Total debt = $700; and Total operating capital = $2,300. What was its return on invested capital (ROIC) ? Select the correct answer. a. 10.47% b. 10.17% c. 9.57% d. 9.27% e. 9.87%
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