Consider a retail firm with a net profit margin of 3.19 % a total asset turnover of 1.89, total assets of $ 45.2 million, and a book value of equity of $ 18.2million.

a. What is the firm's current ROE?

b. If the firm increased its net profit margin to 3.96 % what would be its ROE?

c. If, in addition, the firm increased its revenues by 20 %

(maintaining this higher profit margin and without changing its assets or liabilities), what would be its ROE?