Braverman Corporation's net income last year was $75,000 and its interest expense was $10,000. Total assets at the beginning of the year were $650,000 and total assets at the end of the year were $610,000. The corporation's income tax rate was 30%. The corporation's return on total assets for the year was closest to:
A. 13.0%
B. 12.4%
C. 11.9%
D. 13.5%
Answer: A
Business
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