Carmel Inc. has net income of $60,000. The collection period (based on sales) for its account receivables is 23 days.

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Carmel Inc. has net income of $60,000. The collection period (based on sales) for its account receivables is 23 days. Total assets are $400,000, total account receivables are $60,000 and its debt-equity ratio is 1.5. What is St. John’s ROE? 

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