Consider the following financial data for Shannons Computer Stores:

Balance Sheet as of December 31, 2012

Cash & equivalents	$	102,500		Accounts payable	$	167,000
Accounts receivable		230,000		Notes payable		172,000
Inventories		301,500		Accrued wages and taxes		101,000
Total current assets	$	634,000		Total current liabilities	$	440,000
				Long-term debt		402,000
Net fixed assets		623,000		Common equity		415,000
Total assets	$	1,257,000		Total liabilities & equity	$	1,257,000

Statement of Earnings for the Year Ended December 31, 2012

Sales revenue	$	765,500
Cost of sales		463,000
Gross profit	$	302,500
Operating expenses		178,500
Earnings before interest and taxes (EBIT)	$	124,000
Interest expense		40,000
Earnings before taxes (EBT)	$	84,000
Federal and state income taxes (40 percent)		33,600
Net profit	$	50,400

Calculate Shannons return on equity (ROE).