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13. A firm has a profit margin of 4.5% and an equity multiplier of 1.6. Its sales are $390 million, and it has total assets

13. A firm has a profit margin of 4.5% and an equity multiplier of 1.6. Its sales are $390 million, and it has total assets of $195 million. What is its ROE? Do not round intermediate calculations. Round your answer to two decimal places.

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