GAAP, Inc. has total assets of $2,575,000, sales of $5,950,000, total liabilities of $1,855,062, and a net profit margin of 2.9%. What is GAAP's return on equity? Round to the nearest 0.1%
A) 8.6%
B) 24.0%
C) 16.4%
D) 4.4%
Answer: B
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