Ladders, Inc. has a net profit margin of

5.6%

on sales of

$49.7

million. It has book value of equity of

$40.3

million and total book liabilities of

$28.3

million. What is Ladders' ROE? ROA? Note: Assume the value of Interest Expense is equal to zero.

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Part 1

What is Ladders' ROE?

Ladders' ROE is

enter your response here%.

(Round to two decimal places.)