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6. Problem 3-05 (ROE) ROE Needham Pharmaceuticals has a profit margin of 3% and an equity multiplier of 2.3. Its sales are $70 million and

6. Problem 3-05 (ROE)

ROE

Needham Pharmaceuticals has a profit margin of 3% and an equity multiplier of 2.3. Its sales are $70 million and it has total assets of $40 million. What is its return on equity (ROE)? Do not round intermediate calculations. Round your answer to two decimal places.

_____ %

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