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Haley has $10 million in invested capital, has $3 million in EBIT, and is in the 50% federal-plus-state tax bracket. Haley has a debt-to-capital ratio

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Haley has $10 million in invested capital, has $3 million in EBIT, and is in the 50% federal-plus-state tax bracket. Haley has a debt-to-capital ratio of 40% and pays 12% interest on its debt. What is the ROE for Haley? O 55.4% O 31.7% O 25.2% O 21.0%

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