Custom Baseball Hats sells all its merchandise on credit. It has a profit margin of 4 percent,

Question:

Custom Baseball Hats sells all its merchandise on credit. It has a profit margin of 4 percent, days sales outstanding equal to 60 days (based on a 365-day year), receivables of $\$ 147,945.20$, total assets of $\$ 3 \mathrm{mil}-$ lion, and a debt ratio of 0.64 . What is the firm's ROE?

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