Problem $3-16($Static$)$ DuPont system of analysis $[$LO$3-3]$

Jerry Rice and Grain Stores has $$4,780,000$ in yearly sales. The firm earns $4\mathrm{.}5$ percent on each dollar of sales and turns over its assets $2\mathrm{.}7$ times per year. It has $$123,000$ in current liabilities and $$349,000$ in long$-$term liabilities.

a$.$ What is its return on stockholders' equity?

Note: Do not round intermediate calculations. Input your answer as a percent rounded to $2$ decimal places.

Return on stockholders' equity

b$.$ If the asset base remains the same as computed in part a$,$ but total asset turnover goes up to $3,$ what will be the new return on stockholders' equity? Assume that the profit margin stays the same as do current and long$-$term liabilities.

Note: Do not round intermediate calculations. Input your answer as a percent rounded to $2$ decimal places.