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A firm has an ROE of 4 . 7 % , a debt - to - equity ratio of 0 . 5 , and a

A firm has an ROE of

4.7 %,

a debt

-

-

equity ratio of

0.5,

and a tax rate of

21 %

and pays an interest rate of

8 %

on its debt. What is its operating ROA?

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