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A firm has a profit margin of 2.5% and an equity multiplier of 2.9. Its sales are $480 million, and it has total assets of

A firm has a profit margin of 2.5% and an equity multiplier of 2.9. Its sales are $480 million, and it has total assets of $288 million. What is its ROE? Do not round Intermediate calculations. Round your answer to two decimal places %

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