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Last year Friar Hard Seltzer had sales of $ 3 0 5 , 0 0 0 , assets of $ 1 7 5 , 0
Last year Friar Hard Seltzer had sales of $ assets of $which equals total invested capital a profit margin of and an equity multiplier of The CFO believes that the company could reduce its assets by $ without affecting either sales or costs. Had the company reduced its assets by this amount, and had the debttotal invested capital ratio, sales, and costs remained constant, calculate the new Return on Equity ROE for Friar Hard Seltzer using the DuPont Equation:
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