You have been asked to examine a valuation done of Loden Construction, a real estate and construction company. You have been provided with the income statement for the last year: Revenues 1,055.1- Operating Expenses 713.1- Depr. & Amort. 104= EBIT 224.7 In the valuation, the analyst has assumed a growth rate of 0.06 forever in revenues, operating income and depreciation, and assumed capital expenditures of $ 167.1 million (for next year). In addition, the analyst has assumed that non-cash working capital will be 0.30 of the change in revenues. (Tax rate = 20%) What is the reinvestment rate? You Answered