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A company reports the following income statement and balance sheet information for the current year: Net income $155,480 Interest expense 13,525 Average total assets 1,779,000

A company reports the following income statement and balance sheet information for the current year:

Net income	$155,480
Interest expense	13,525
Average total assets	1,779,000

Determine the rate earned on total assets. Round the percentage to one decimal place. %

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