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Last year, a company had total assets of $42 million, an asset turnover ratio of 1.55 times, and a net profit margin of 12.2%. Given

Last year, a company had total assets of $42 million, an asset turnover ratio of 1.55 times, and a net profit margin of 12.2%. Given that 50% of the assets are financed with stockholders' equity, what is the company's ROE?

a. 22.1%

b. 32.5%

c. 28.6%

d. 38.0%

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