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Question
Last year Vaughn Corp. had sales of $315,000 and a net income of $17,832, and its year-end assets were $210,000. The firm's total-debt-to-total-assets ratio was 42.5%. Based on the DuPont equation, what was Vaughn's ROE?a. 14.77%
b. 15.51%
c. 16.28%
d. 17.10%
e. 17.95%
Answer
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