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In 2020, ABC Corp. had sales/revenue of $25,000,000, Costs of Goods Sold (COGS) of $13,200,000 Sales, General, and Administrative (SG&A) expense of $3,400,000, Depreciation expense

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In 2020, ABC Corp. had sales/revenue of $25,000,000, Costs of Goods Sold (COGS) of $13,200,000 Sales, General, and Administrative (SG\&A) expense of $3,400,000, Depreciation expense of $2,100,000, and Interest expense of $500,000. Also assume that its average tax rate was 19%. Wha was ABC Corp.'s Return on Equity (ROE) as of 2020 if ABC Corp. had the total assets of $30,000,000 and total liabilities of $16,000,000 ? 18.79% 15.66% 38.92% 33.56%

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