The South Alberta Corp had income tax expense of $40,000 and profit after taxes of $220,000 for the current year.Preferred dividends were $120,000 for the year.Its average common equity was $560,000 and ending equity was $1,150,000.What is South Alberta Corp's return on common equity?

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The Answer of The South Alberta Corp had income tax expense of $40,000 and profit after taxes of $220,000 for the current year.Preferred dividends were $120,000 for the year.Its average common equity was $560,000 and ending equity was $1,150,000.What is South Alberta Corp's return on common equity?

The South Alberta Corp Had Income Tax Expense of $40,000