Pecfic Packaging's RoE last year was orly sth, but its management has developed a new operating plan that calls for a debt-to-capital ratio of cow, which will result in annual interest charoes of \$440,000. The fim his no plans to use peeferred stod, and tatal assets equal total nvested capital, Management projects an fut of $1,287,000 on sales of $11,000,000, and it expects to have a total assets tumover ratio ot 3,2. Under these condnices, the tax rate will be 25%, If the chances are made, what will be the company's retum on equity? De not round intermediste calculatians. Alound your antwer to tivo decenat places