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Compute return on net operating assets (RNOA) for fiscal year 2009 and 2008. Be sure to use average net operating assets in the denominator.

Daniel Kevins

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F. Compute return on net operating assets (RNOA) for fiscal year 2009 and 2008. Be sure to use average net operating assets in the denominator.

RNOA = Net operating profit after tax / Average net operating assets

Fiscal 2009

$525.87 / (4185 + 3723) / 2 = 13.3%

Fiscal 2008

$481.57 / (3723 + 3612) / 2 = 13.13%

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