Please provide true correct solution . Hamilton Biotech has a profitmargin of 8% and an equitymultiplier of 2.8. Its sales are $150million, and it has total assets of$60 million.What is Hamilton Biotech's Returnon Equity (ROE)? Round youranswer to two decimal places.

Return on Equity (ROE) is calculated using the DuPont Identity formula:ROE = Profit Margin × Asset…

Answered: Hamilton Biotech has a profit margin of…

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 6P

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Hamilton Biotech has a profit margin of 8% and an equity multiplier of 2.8. Its sales are $150 million, and it has total assets of $60 million. What is Hamilton Biotech's Return on Equity (ROE)? Round your answer to two decimal places.