Question: Cost of capital is 10%  Net investment is calculated as total assets less all liabilities.  Critically evaluate performance for 2009 to 2011.
                                    ($000,000)
                         2009        2010        2011
Net income        $14.0       $14.3      $14.4
Total assets        125           130         135
Return on net
investment         20%         22%        24%