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Keller Cosmetics maintains an operating profit margin of 8.55% and a sales-to-assets ratio of 3.00. It has assets of $610,000 and equity of $410,000. Interest payments are $41,000 and the tax rate is 30%.
a. What is the return on assets? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Return on assets %
b. What is the return on equity? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Return on equity