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Needham Pharmaceuticals has a profit margin of 4% and an equity multiplier of 4.0. Its sales are $80 million and it has total assets of

Needham Pharmaceuticals has a profit margin of 4% and an equity multiplier of 4.0. Its sales are $80 million and it has total assets of $40 million. What is its ROE?

50%

32%

16%

12%

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