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For an all equity firm with a total asset turnover of 1.3, what profit margin would achieve a target ROE of 0.17? Convert the profit
For an all equity firm with a total asset turnover of 1.3, what profit margin would achieve a target ROE of 0.17? Convert the profit margin rate to a percent and report it to the nearest hundredth as in xx.xx % but not entering the percent sign. You would need to calculate the rate to four places before multiplying by 100 to convert to a percent. Over fiscal 2019, a firm's income statement had $456,736 as net income and $291,946 as dividends. The 2019 balance sheet showed total common equity as $5,000,000. The firm has 136,304 shares outstanding, with no new stock issued or repurchased over the year. The book value per share at the end of 2019 is: Answer to the nearest cent as in XX.XX without entering the dollar sign
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