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Question 12 (1 point) Burger Corp has $563,000 of assets, and it uses only common equity capital (zero debt). Its sales for the last year
Question 12 (1 point) Burger Corp has $563,000 of assets, and it uses only common equity capital (zero debt). Its sales for the last year were $742,500, and its net income after taxes was $25,000. Stockholders recently voted in a new management team that has promised to lower costs and get the return on equity up to 15%. What profit margin would Burger need in order to achieve the 15% ROE, holding everything else constant? Answer in % without units (i.e. 17.11% -> 17.1) Your
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