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Gomez Company reports the following amounts for 2017: Net income 160,000 Average shareholders equity 2,000,000 Preference dividends 45,000 Par value preference shares 250,000 The

Gomez Company reports the following amounts for 2017:

Net income € 160,000

Average shareholders’ equity 2,000,000

Preference dividends 45,000

Par value preference shares 250,000

The 2017 rate of return on ordinary shareholders’ equity is:

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