Cullumber Corporation's suite of software products and services provides secure and scalable solutions for global companies. The following is an extract from the company's 2024 and 2023 comparative income statements and statement of financial position. The market price of Cullumber's common shares was $41.15 and $38.10 on June 30,2024 , and June 30,2023 , respectively. Cullumber declared dividends per common share of $0.480 and $0.417 for 2024 and 2023 , respectively. CULLUMBER CORPORATION Years Ended June 30, 2024 and 2023 \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|l|}{ (in thousands) } \\ \hline Comparative Income Statement & 2024 & 2023 \\ \hline Total revenues & $2,275,722 & $1,815,963 \\ \hline Total cost of goods sold & 756,148 & 571,827 \\ \hline Total operating expenses & 1,252,907 & 877,456 \\ \hline Net income & 266,767 & 283,193 \\ \hline Statement of Financial Position & 2024 & 2023 \\ \hline Total assets & $7,451,737 & $5,142,600 \\ \hline Total liabilities & 3,964,600 & 3,762,154 \\ \hline Common share capital & 1,446,988 & 822,180 \\ \hline Total shareholders' equity & 3,487,137 & 1,380,446 \\ \hline Weighted average number of common shares outstanding & 254,711 & 243,712 \\ \hline \end{tabular} Calculate the return on shareholders' equity for Cullumber in 2024. Note that Cullumber's articles of incorporation authorize only common shares. The average return for the shares listed on the Toronto Stock Exchange in a comparable period was 19.8%. (Round answer to 1 decimal place, e.g. 15.2\%.) Return on shareholder's equity %