First State Bank had $8.75 in assets per dollar of equity capital and was able to convert a dollar of equity into 15 cents of net income. It also had a asset utilization ratio of 7.50% . What was First State's profit margin?

Select one:

a.

22.86 percent

b.

15.26 percent

c.

18.38 percent

d.

36.49 percent

e.

7.06 percent