An investor made the following information about a purchase:
·Bought an office building for $500,000 using 90% financing.
·The borrowing cost was 10%.
·They received $29,000 at year-end from rentals.
·They sold the building for $520,000 at the end of the year.
Assuming a flat tax rate on income and capital gains of 25%, what was the return on equity?

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