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Suppose that a firm has a profit margin of 6.00% and an equity multiplier of 1.6, with total sales of $400 million and total assets

Suppose that a firm has a profit margin of 6.00% and an equity multiplier of 1.6, with total sales of $400 million and total assets of $80 million. Which of the following most closely approximates the firms ROE?

1.20% 48.00% 0.53% 30.00%

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