Assume that your company is 60 percent equity financed (40 percent debt financed). Given the following information, calculate the return on equity (ROE).

Group of answer choices:

9.30%

9.40%

9.50%

9.60%

9.20%

\begin{tabular}{||l|r||} \hline \hline Data & \multicolumn{1}{|c|}{ Amount } \\ \hline \hline EBIT & $6,000 \\ \hline Sales & $35,000 \\ \hline Interest Rate & 0.06 \\ \hline Dividend payout ratio & 40% \\ \hline Total assets turnover & 0.70x \\ \hline Tax rate & 40% \\ \hline \end{tabular} \begin{tabular}{||l|r||} \hline \hline Data & \multicolumn{1}{|c|}{ Amount } \\ \hline \hline EBIT & $6,000 \\ \hline Sales & $35,000 \\ \hline Interest Rate & 0.06 \\ \hline Dividend payout ratio & 40% \\ \hline Total assets turnover & 0.70x \\ \hline Tax rate & 40% \\ \hline \end{tabular}