If Roten Rooters, Inc., has an equity multiplier of 1.59, total asset turnover of 1.50, and a profit margin of 6.9 percent, what is its ROE? (Round your answer to 2 decimal places. (e.g., 32.16))

  

ROE

%

Explanation:

ROE = (PM)(TAT)(EM)

ROE = (0.069)(1.50)(1.59) = 0.1646, or 16.46%