Leo's Markets Has Sales of $684,000,costs of $437,000,interest Paid of $13,800,total

Multiple Choice

Leo's Markets has sales of $684,000,costs of $437,000,interest paid of $13,800,total assets of $712,000,and depreciation of $109,400.The tax rate is 21 percent and the equity multiplier is 1.6.What is the return on equity?

A) 21.30 percent
B) 23.92 percent
C) 20.06 percent
D) 19.48 percent
E) 21.98 percent