Profitability Ratios:

Tanaka Corporation's balance sheet indicates the following balances as of December 31, 2013.

Cash	$ 70,000
Accounts receivable	74,600
Inventory	55,000
Property, plant, and equipment	500,000
Accounts payable	75,000
Bonds payable (due in 2017)	100,000
Common stock (12/31/2012)	275,000
Common stock (12/31/2013)	325,000
Retained earnings (12/31/2012)	200,000
Retained earnings (12/31/2013)	260,000

Required:

If Tanaka's 2013 net income is $74,600, determine its return on equity. Round your answer to two decimal places.

_______% ?