Net operating profit after tax (NOPAT) includes operating revenues less expenses such as: A. Cost of goods sold (COGS) B. Taxes on operating income C. Selling, general and administrative expenses (SG&A) D. After-tax earnings from investments and interest expenses E. All of the above F. A, B and C only

Chang corp. has $375,000 of assets, and it uses only common equity capital (zero debt). its sales for the last year were $595,000, and its net income was $25,000. stockholders recently voted in a new management team that has promised to lower costs and get the return on equity up to 15.0%. what profit margin would the firm need in order to achieve the 15% roe, holding everything else constant? a. 9.45%b. 9.93%c. 10.42%d. 10.94%e. 11.49%