uses preferred stock in its capital structure.

a$.$ Calculate the return on invested capital $($ROIC$)$ for each firm. Round your answers to two decimal places.

ROIC for firm LL:

$\%$

ROIC for firm $HL$ :

$\%$

b$.$ Calculate the return on equity $($ROE$)$ for each firm. Round your answers to two decimal places.

ROE for firm LL:

$\%$

ROE for firm HL:

$\%$

$15\%.$ Calculate the new ROE for LL$.$ Round your answer to two decimal places.

$\%$