Question: 6. Problem 3-05 (ROE) ELE eBook ROE Needham Pharmaceuticals has a profit margin of 4% and an equity multiplier of 1.8. Its sales are $110

6. Problem 3-05 (ROE) ELE eBook ROE Needham Pharmaceuticals has a

6. Problem 3-05 (ROE) ELE eBook ROE Needham Pharmaceuticals has a profit margin of 4% and an equity multiplier of 1.8. Its sales are $110 million and it has total assets of $60 million. What is its return on equity (ROE)? Do not round intermediate calculations. Round your answer to two decimal places. %

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