Spencer Inc. has the following information for the current year: Net income = $600; Net operating profit after taxes (NOPAT) = $800; Total assets = $5,000; Short-term investments = $500; Stockholders equity = $3,000; Debt = $2,000; and Total net operating capital = $3200. Spencer’s cost of capital is 10%. 1. What is the Return on invested capital (ROIC) for the current year?
A. 15.0%
B. 20.0%
C. 24.0%
D. 25.0%
E. 30.0%