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Calculate Return on Equity (ROE): Requirements: Using the following figures: Net Income: $120,000 Average Equity: $800,000 Compute the return on equity (ROE). Express ROE as

Calculate Return on Equity (ROE): Requirements:

Using the following figures:
- Net Income: $120,000
- Average Equity: $800,000
Compute the return on equity (ROE).
Express ROE as a percentage.
Provide the calculated ROE.

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