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[2 marks] f) How are ROA, ROE, and the debt-to-equity ratio related? Please write down the definitions of ROA and ROE and derive an identity

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[2 marks] f) How are ROA, ROE, and the debt-to-equity ratio related? Please write down the definitions of ROA and ROE and derive an identity that links ROA, ROE and debt-to-equity ratio. [4 marks]

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