Find the ratio of net income after taxes to average owner's equity. Round to the nearest tenth of a percent.Owner's equity at beginning of year: $614,000. Owner's equity at end of year: $2,058,000. Net income after taxes: $316,500.
A. 15.4%
B. 51.6%
C. 23.7%
D. 51.5%
Answer: C
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