This is the fifth of fiveassociatedEisenmengerElectronicEnterprises problems. All use these same figures:

The most recent Income StatementforEisenmengerElectronicEnterprises (EEE) shows

Sales:$11,635,000

Cost of Goods Sold:$8,975,000

Earnings before interest and taxes (EBIT):$1,287,500

Net Income:$616,655

(The company paid income tax at a 36% average combined federal-plus-state rate.)

The most recent balance sheet shows

Total Assets:$7,420,000

Owner'sEquity:$4,180,000

Debt:$3,240,000

Compute the return on equity (ROE) in % to 2 decimal places (x.xx%).