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Crane Company had the following information in its financial statements for the years ended 2020 and 2021: Cash dividends for the year 2021 $4500 Net

Crane Company had the following information in its financial statements for the years ended 2020 and 2021:

Cash dividends for the year 2021

$4500

Net income for the year ended 2021

96000

Market price of stock, 12/31/20

8

Market price of stock, 12/31/21

10

Common stockholders equity, 12/31/20

990000

Common stockholders equity, 12/31/21

1190000

Outstanding shares, 12/31/21

99000

Preferred dividends for the year ended 2021

14000

What is the rate of return on common stock equity for Crane Company for the year ended 2021?

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