Data for current year Number of X units sold Sales price per unit Cost per unit Commission (% of sales) Freight cost per unit 14,000 1,200 300 10% 300 Number of Y units sold Sales price per unit Cost per unit Commission (% of sales) Freight cost per unit Advertising per unit 17,000 12,000 600 20% 200 300 Travel expense Marketing expense Utility expense Salaries Salary overhead 195,000 67,000 14,000 525,000 30% Cost of Machine M Years to depreciate Cost of Machine N Years to depreciate 1,500,000 10 942,000 6 Tax rate 40% Dividend Payout Ratio 30% Data just prior to current year Paid In Capital Additional Paid in Capital Retained Earnings 16,000,000 117,000,000 161,000,000 3 What was Return on Equity? A Between 19.0% and 22.0% B Between 22.0% and 24.0% C Between 24.0% and 26.0% D Between 26.0% and 27.0% E Between 27.0% and 29.0% F Between 29.0% and 30.0% G Between 30.0% and 35.0% H Between 35.0% and 40.0%