The Total Assets of the Philbin Company on January 1

Multiple Choice

The total assets of the Philbin Company on January 1 were $2.3 million and on December 31 were $2.5 million.Net income for the year was $188,000.Dividends for the year were $75,000,interest expense was $70,000,and the tax rate was 30%.The return on total assets for the year was closest to which of the following?

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