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Last year YYY Company had a 4 . 0 0 % net profit margin based on $ 2 2 , 0 0 0 , 0
Last year YYY Company had a net profit margin based on $ in sales and $ of total assets. During the coming year, the president has set a goal of attaining a return on total assets. If YYY finances of its assets by borrowing, what will its return on common equity be next year if the return on assets goal is achieved? State your answer in percent with two decimal places.
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