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At the end of 2021, Corine's Candies Inc. had total shareholders' equity of $13.8 million. In 2022, the company had net income of $5.2 million

At the end of 2021, Corine's Candies Inc. had total shareholders' equity of $13.8 million. In 2022, the company had net income of $5.2 million and paid out half this amount in dividends, resulting in shareholders' equity at the end of 2022 of $16.4 million. Use the average amount of shareholders' equity to determine Corine's ROE for 2022

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