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Assume Drummond Company has an ROE = 16.7%, a profit margin = 3%, and a total asset turnover ratio = 1.6. What is Drummond's equity

Assume Drummond Company has an ROE = 16.7%, a profit margin = 3%, and a total asset turnover ratio = 1.6. What is Drummond's equity multiplier (EM)? ENTER YOUR ANSWER TO TWO DECIMAL PLACES.

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