SolarWave Inc. has reported a net income of $1.5 million for the fiscal year ending December 31, 2023. The company had total assets of $18 million and total liabilities of $8 million at the end of the year. During the year, SolarWave Inc. issued additional shares, increasing the total equity by $1.2 million. Calculate the return on equity (ROE) for SolarWave Inc. for the fiscal year 2023.