Calculate settles incorporateds return on equity

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Reference no: EM133497213

Case: For the year ended December 31, 2022, Settles Incorporated earned an ROI of 8.0%. Sales for the year were $16 million, and average asset turnover was 2. Average stockholders' equity was $3.1 million.

Calculate Settles Incorporated's return on equity.

Reference no: EM133497213

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