QUESTION 20 Jindal Corporation has $455,000 of assets, and it uses only common equity capital (zero debt). Its sales for the last year were $720,000, and its net income was $45,000. Stockholders recently voted in a new management team that has promised to lower costs and get the return on equity up to 18%. What profit margin would the firm need to achieve the 18% ROE, holding everything else constant? a. 11.85% b. 8.72% c. 12.25% d. 10.65% e. 11.37%