The Total Assets of the Philbin Company on January 1,20

Multiple Choice

The total assets of the Philbin Company on January 1,20 × 9 were $2.3 million and on December 31,20 × 9 were $2.5 million.Net income for 20 × 9 was $188,000.Dividends for 19 × 9 totalled $75,000,interest expenses totalled $70,000,and the tax rate was 30%.The return on total assets for 20 × 9 was closest to:

A) 6.8%.
B) 9.5%.
C) 9.9%.
D) 10.8%.