The total assets of Perez Company were $1,950,000 at the beginning of the year and $1,830,000 at the end of the year. The company reported net income of $225,000 and interest expense of $30,000 during the year. The company’s income tax rate was 30%. What was the company’s return on total assets for the year? How may this information be used by managers, investors, or creditors?
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