• Apex Technologies has reported a net income of $5.5 million for the fiscal year ending December 31, 2023. The company had total assets of $22 million and total liabilities of $14 million at the end of the year. During the year, Apex Technologies issued additional shares, increasing the total equity by $2.5 million. Calculate the return on equity (ROE) for Apex Technologies for the fiscal year 2023.