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Problem 3-5 ROE Needham Pharmaceuticals has a profit margin of 5.5% and an equity multiplier of 1.6. Its sales are $90 million and it has

Problem 3-5 ROE Needham Pharmaceuticals has a profit margin of 5.5% and an equity multiplier of 1.6. Its sales are $90 million and it has total assets of $60 million. What is its Return on Equity (ROE)? Round your answer to two decimal places

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