Brandon Company\'s net income last year was $95,000 and its interest expense was

Question

Brandon Company's net income last year was $95,000 and its interest expense was $27,500. Total assets at the beginning of the year were $700,000 and total assets at the end of the year were $750,000. The company's income tax rate was 30%. The company's return on total assets for the year was closest to: 15.2% 15.8% 13.1% 16.3%

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Brandon Company's net income last year was $95,000 and its interest expense was $27,500. Total assets at the beginning of the year were $700,000 and total assets at the end of the year were $750,000. The company's income tax rate was 30%. The company's return on total assets for the year was closest to: 15.2% 15.8% 13.1% 16.3%

Explanation / Answer

13.1

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