1. Given the following data for the year 2023, please use the Dupont system to find the ROE for Spahr cosmetics company in 2023:

Equity multiplier	2.3
Total asset turnover	2
Net profit margin	4.8%
Dividend payout ratio	34.2%

1. 7.5%
2. 22.1%
3. 10.57%
4. 78.6%