28 Consider the following income statement and other information: Luther Corporation Consolidated Income Statement Year ended December 31 (in $ millions) 2018 2017 610.1 578.3 Total sales Cost of sales (500.2) (481.9) Gross profit 109.9 96.4 Selling, general, and administrative expenses (40.5) (39.0) Research and development (24.6) (22.8) Depreciation and amortization (3.6) (3.3) Operating income 41.2 31.3 Other income www Earnings before interest and taxes (EBIT) 41.2 31.3 Interest income (expense) (25.1) (15.8) Pre-tax income 16.1 15.5 Taxes (5.5) (5.3) Net income 10.6 10.2 Taxes Net income (5.5) (5.3) 10.6 10.2 Price per share $16 $15 Shares outstanding (millions) 10.2 8.0 Stock options outstanding (millions) 0.3 0.2 Stockholders' Equity Total Liabilities and Stockholders' Equity 122.6 63.6 533.1 386.7 Luther's return on equity (ROE) for the year ending December 31, 2018 is closest to: a. 2.0% b. 8.40% c. 12.72% d. 8.65%