Click here to read the book Profitability Ratios Problem Walkthrough RETURN ON EQUITY Pacific Packaging' ROE last year was only but its management has developed a new operating plan that calls for a debt-to capital ratio of 45%, which will result in annual interest charges of $598.000. The firm has no plans to use preferred stock and total assets equal total invested capital Management projects an EBIT of $988,000 on sales of $13,000,000, and it expects to have totale turnover ratio of 4,0. Under these conditions, the tax rate wit be 35%. If the changes are made, what will be the company's return on equity Do not round intermediate calculations Round your awer to two decimal places