Midwest packaging's ROE last year was only 3%, bit its management has developed a new operating plan that calls for a total debt ratio of 60%, which will result in annual interest of $300,000. Management projects an EBIT of $1,000,000 on sales of 10,000,000 and it expects to have a total assets turnover ratio of 2.0. Under these conditions, the tax rate will be 34%. If the changes are made, what will be the company's return on equity?