Question
A firm has a profit margin of 8% and an equity multiplier of 3.0. Its sales are $60 million, and it has total assets of
A firm has a profit margin of 8% and an equity multiplier of 3.0. 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. (in percentage form)
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
Concise 6th Edition
324664559, 978-0324664553
