Mei-kwei Internationals common stock sold for $2.55 per share at the end of this year. The company paid preferred stock dividends totalling $4,400 and a common stock dividend of $0.36 per share this year. It also provided the following data excerpts from this years financial statements:

	Ending Balance	Beginning Balance
Cash	$	30,500	$	46,000
Accounts receivable	$	52,000	$	45,000
Inventory	$	49,300	$	52,000
Current assets	$	131,800	$	143,000
Total assets	$	353,000	$	318,200
Current liabilities	$	52,500	$	37,500
Total liabilities	$	98,000	$	88,200
Preferred stock	$	37,000	$	37,000
Common stock, $1 par value	$	74,000	$	74,000
Total stockholders equity	$	255,000	$	230,000
Total liabilities and stockholders equity	$	353,000	$	318,200

	This Year
Sales (all on account)	$	585,000
Cost of goods sold	$	339,300
Gross margin	$	245,700
Net operating income	$	75,375
Interest expense	$	4,500
Net income	$	110,000

Required:

What is the return on total assets (assuming a 30% tax rate)? (Round your answer to 1 decimal place.)