Step Up Ladders Company Provides the Following Financial Information Calculate Return on Investment Based on the Information Given Above

Multiple Choice

Step Up Ladders Company provides the following financial information: $$\begin{array} { | l | r | } \hline \text { Income from operations } & \$ 250,000 \\\hline \text { Interest expense } & 49,000 \\\hline \text { Gains/(losses) on sale of equipment } & 2800 \\\hline \text { Net income } & 198,200 \\\hline \text { Total assets at Jan. 1 } & 2,700,000 \\\hline \text { Total assets at Dec .31 } & 3,500,000 \\\hline\end{array}$$ Calculate return on investment based on the information given above.(Round your answer to two decimal places.)

A) 9.26%
B) 6.39%
C) 8.06%
D) 7.14%