Firm's hl and ll are identical except for their leverage ratios and the interest rates they pay on debt. each has $20 million in assets, $4 million of ebit, and is in the 40 percent federal-plus-state tax bracket. firm hl, however, has debt ratio (d/a) of 50 percent and pays 12 percent interest on its debt, whereas ll has a 30 percent debt ratio and pays only 10 percent interest on its debt. calculate the rate of return on equity (roe) for hl

In 2017, "a public university was awarded a federal reimbursement grant" of $18 million to carry out research. of this, $12 million was intended to cover direct costs and $6 million to cover overhead. in a particular year, the university incurred $4 million in allowable direct costs and received $3.4 million from the federal government. it expected to incur the remaining costs and collect the remaining balance in 2018. for 2017 it should recognize revenues from the grant of