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In: AccountingFor fiscal year 2018, Hiroole Department Store had net income of$6,060,000. Interest expense was $2,272,500,...For fiscal year 2018, Hiroole Department Store had net income of$6,060,000. Interest expense was $2,272,500, and the company’s taxrate on income was 40 percent. Total assets were $80,827,000, andnoninterest-bearing current liabilities were $7,188,000. Thecompany’s cost of capital (required rate of return) is 10 percent.Calculate NOPAT, invested capital, and residual income for HirooleDepartment Store. (Enter negative answers preceding either - sign,e.g. -45 or in parentheses, e.g. (45).) NOPAT $ Invested capital $Residual income $ Comment on the company’s profitability. Thecompany appears .
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