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Vintage, Inc. has a total asset turnover of 1.55 and a net profit margin of 3.65%. The total assets to equity ratio for the firm is 2.4. Calculate Vintage's return on equity. Round the answers to two decimal places in percentage form.

Vintage, Inc. has a total asset turnover of 1.55 and a net profit margin of 3.65%. The total assets to equity ratio for the firm is 2.4. Calculate Vintage's return on equity. Round the answers to two decimal places in percentage form.

EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter3: Evaluation Of Financial Performance
Section: Chapter Questions
Problem 2P
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Vintage, Inc. has a total asset turnover of 1.55 and a net profit margin of 3.65%. The total assets to equity ratio for the firm is 2.4. Calculate Vintage's return on equity. Round the answers to two decimal places in percentage form.
Transcribed Image Text:Vintage, Inc. has a total asset turnover of 1.55 and a net profit margin of 3.65%. The total assets to equity ratio for the firm is 2.4. Calculate Vintage's return on equity. Round the answers to two decimal places in percentage form.
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