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You have been asked to analyze First Union Bank. You have only the following information on the bank at year-end 2021: Net income is $270,000,

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You have been asked to analyze First Union Bank. You have only the following information on the bank at year-end 2021: Net income is $270,000, total debt is $2.2 million, and the bank's debt ratio is 55 percent. What is First Union Bank's ROE for 2021? (Do not round intermediate calculations. Round your percentage answer to 2 decimal places. (e.g., 32.16))

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