ROCE measures profitability from capital used Steps:

• Extract EBIT from the table (e.g., $4.8 million).
• Compute capital employed as total assets minus current liabilities (e.g., $25 million -$5 million = $20 million).
• Divide EBIT by capital employed: $4.8 /$20 = 0.24.
• Convert to percentage: 0.24 × 100 = 24.0%.

Why D is correct:

• ROCE formula is EBIT / (total assets - current liabilities), yielding exactly 24.0% with table data.

Why the others are wrong:

• A: Uses net profit instead of EBIT, understating return.
• B: Divides by total assets alone, ignoring liability adjustment.
• C: Applies ROE formula (profit/equity), not ROCE.

Final answer: D