Baxter Equipment earned $300,000 last year. Its owners' equity totaled $2,500,000. Based on these amounts, what is the firm's return on owners' equity?
A. 1.2 percent
B. 8.33 percent
C. 12 percent
D. 122 percent
E. It is impossible to calculate the return on owners' equity with this information.
Answer: C
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Fill in the blanks with correct word
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