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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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