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Jones Inc. has sales of $1,000,000, total assets of $2,000,000, and a profit margin of 3 percent. The firm has a total debt ratio of

Jones Inc. has sales of $1,000,000, total assets of $2,000,000, and a profit margin of 3 percent. The firm has a total debt ratio of 35 percent. What is the return on equity?

2.3%

1.5%

3.0%

3.6%

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