U KNO, Inc. uses only debt and common equity funds to finance its assets. This past year the firm's return on total assets was 22%. The firm financed 20% percent of its assets using debt. What was the firm's return on common equity? (Round your answer to two decimal places and state it in percentage form.)

Answer rating: 100% (QA)

To calculate the firms return on common equity we can use the following formula Return on Common ... View the full answer