[Solved] 4.6 A firm has a profit margin of 7% and

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4.6 A firm has a profit margin of 7% and an equity multiplier of 1.4. Its sales are $60 million, and it has total assets

4.6

A firm has a profit margin of 7% and an equity multiplier of 1.4. Its sales are $60 million, and it has total assets of $36 million. What is its ROE? Do not round intermediate calculations. Round your answer to two decimal places.

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