Pacific Packaging's ROE last year was only $6\%$; but its management has developed a new operating plan that calls for a debt$-$to$-$capital ratio of $50\%,$ which will result in annual interest charges of $$645,000.$ The firm has no plans to use preferred stock and total assets equal total invested capital. Management projects an EBIT of $$1,335,000$ on sales of $$15,000,000,$ and it expects to have a total assets turnover ratio of $3\mathrm{.}2.$ Under these conditions, the tax rate will be $30\%.$ If the changes are made, what will be the company's return on equity? Do not round intermediate calculations. Round your answer to two decimal places.