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The Bike Shop has sales of $34 million, total assets of $24 million, and fixed assets of $18 million and total debt of $11 million.

The Bike Shop has sales of $34 million, total assets of $24 million, and fixed assets of $18 million and total debt of $11 million. The profit margin is 12 percent and a Tax rate of 40%. What is the return on equity?

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13.16 percent

18.83 percent

27.57 percent

31.38 percent

44.21 percent

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