Assume a company provided the following information:

Net income $ $112,000$

Total assets, beginning of the year $ $1,000,000$

Total assets, end of the year $ $1,280,000$

Total liabilities, beginning of the year $ $680,000$

Total liabilities, end of the year $ $830,000$

The return on equity is closest to: $($Round your final answer to the whole percentage.$)$

Multiple Choice

$23\%.$

$25\%.$

$29\%.$

$27\%.$