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Needham Pharmaceuticals has a profit margin of 3% and an equity multiplier of 1.5. Its sales are 90 million and it has total assets of

Needham Pharmaceuticals has a profit margin of 3% and an equity multiplier of 1.5. Its sales are 90 million and it has total assets of $42 million. What is its return on Equity (ROE). Round your answer to two decimal places.

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