Question
A firm has a profit margin of 2.5% and an equity multiplier of 2.8. Its sales are $300 million, and it has total assets of
A firm has a profit margin of 2.5% and an equity multiplier of 2.8. Its sales are $300 million, and it has total assets of $120 million. What is its ROE? Do not round intermediate calculations. Round your answer to two decimal places.
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Personal Financial Planning
Authors: Lawrence J. Gitman, Michael D. Joehnk
11th Edition
0324422865, 978-0324422863
