Problem $29-2$ Performance measures

Keller Cosmetics maintains an operating profit margin of $8\%$ and a sales$-$to$-$assets ratio of $3.$ It has assets of $$500,000$ and equity of

$$300,000.$ Assume that interest payments are $$30,000$ and the tax rate is $25\%.$

a$.$ What is the return on assets?

b$.$ What is the return on equity?

Note: For all requirement, enter your answers as a percent rounded to $2$ decimal places.