Last year Vaughn Corp. had sales of $315,000 and a net income of $17,832, and its year-end assets were $210,000. The firm's total-debt-to-total-assets ratio was 60%. Based on the DuPont equation, what was Vaughn's ROE?

Select the correct answer.

a. 21.23%

b. 20.73%

c. 19.73%

d. 20.23%

e. 21.73%