Braverman Corporation's Net Income Last Year Was $75,000 and Its

Multiple Choice

Braverman Corporation's net income last year was $75,000 and its interest expense was $10,000. Total assets at the beginning of the year were $650,000 and total assets at the end of the year were $610,000. The corporation's income tax rate was 30%. The corporation's return on total assets for the year was closest to:

A) 13.5%
B) 12.4%
C) 13.0%
D) 11.9%