Mike Smith has the following financial data: $475,000 Investment asset at year end Investment asset at beginning of the year $392,000 $27,000 Savings made during the year by Mike $5,000 Employer match to Mike's 401(k) plan $700,000 Total assets on ending statement of financial position $100,000 Gross income on income statement $600,000 Total assets on beginning statement of financial position $200,000 Total liabilities at beginning of year $180,000 Total liabilities at year end D Question 14 What was Mike's return on net worth (RONW) for the year? 12.17%. 22.0096. 0 24.50%. 30.00%