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Baker Industries' net income is $5,000, its interest expense is $50, and its tax rate is 40%. Its notes payable equals $4,000, long-term debt equals$8,000,

Baker Industries' net income is $5,000, its interest expense is $50, and its tax rate is 40%. Its notes payable equals $4,000, long-term debt equals$8,000, and common equity equals $24,000. The firm has no preferred stock. What is the ROE?

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