32. Frank's Welding has net fixed assets of S36,200, total assets of $51,300, long-term debt of $22,000, and total debt of $29,700. What is the net working capital to total assets ratio?

a. 12.18 percent

b. 16.82 percent

c. 14.42 percent

d. 17.79 percent

e. 9.90 percent