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At the beginning of the year, the net assets of Shannon Company were $349,400. The...

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Accounting

At the beginning of the year, the net assets of Shannon Company were $349,400. The only transactions affecting stockholders' equity during the year were net income of $50,000 and dividends of $17,000

Calculate Shannon Company's return on equity (ROE) for the year.

Note: Round your answer to 1 decimal place.

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