Parkinson Ladders Company provides the following financial information:

Income from operations	$40,000
Interest expense	47,000
Gains/(losses) on sale of equipment	3,000
Net income	350,000
Total assets at Jan. 1	2,600,000
Total assets at Dec.31	3,400,000

Calculate return on investment based on the information given above. (Round your answer to two decimal places.)

• A.

  13.33%

• B.

  11.67%

• C.

  15.38%

• D.

  11.76%