Gungor Corp had net operating working capital of $282,800 at the end of 20Y5. Gungor reported EBIT of $140,000 for the 20Y5. Net fixed assets at the end of 20Y4 was $320,000. Gungor's capital spending for 20Y5 was $100,000 and depreciation expense for 20Y5 was $54,100. The firms marginal tax rate is 30%. What was the return on invested capital (ROIC) for Gungor for 20Y5?

a. 11.4%

b. 9.7%

c. 13.7%

d. 15.1%

e. 7.8%