$2.$ TOKWA ENTERPRISES, INC. earned net income before interest and taxes of P$1\mathrm{.}5$ million on sales of P$30\mathrm{.}0$ million and an average asset investment of P$20\mathrm{.}0$ million. Total debts averaged P$5\mathrm{.}0$ million at $16\mathrm{.}0$ percent interest. KWATOK CORPORATION, a competitor, also reported net income before interest and taxes of P$1\mathrm{.}5$ million on sales of P$30\mathrm{.}0$ million and an average asset investment of P$20\mathrm{.}0$ million. However, total debts averaged P$15\mathrm{.}0$ million at $16$ percent interest. Corporate income tax is $32\mathrm{.}0$ percent for both firms. a$.$ Compute the return on equity for both firms