QUESTION $6$

LeCompte Corp. has $$315,000$ of assets, and it uses only common equity capital $($zero debt$).$ Its sales for the last year were $$550,000,$ and its net income after taxes was $$24,655.$ 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 LeCompte need in order to achieve the $15\%$ ROE, holding everything else constant?

a$.9\mathrm{.}11\%$

b$.7\mathrm{.}57\%$

c$.8\mathrm{.}76\%$

d$.8\mathrm{.}59\%,$