Bracken Company's Net Income Last Year Was $85,000 and Its

Multiple Choice

Bracken Company's net income last year was $85,000 and its interest expense was $10,000. Total assets at the beginning of the year were $660,000 and total assets at the end of the year were $600,000. The company's income tax rate was 30%. The company's return on total assets for the year was closest to:

A) 14.6%
B) 14.0%
C) 13.5%
D) 15.1%