I can't seem to reply to the original thread.
Don't quite get the solution posted for 303.3
Let A = Assets and E = Equity with D = A - E.
ROE = ROA/Equity = [(5%*A) - (A - E)*4%]/E. Since ROE must be at least 15%, the minimum leverage is achieved when ROE = 15% such that:
[(5%*A) - (A -...