QUESTION $1$

Last year Harrington Inc. had sales of $$325,000$ and a net income of $$19,000,$ and its year$-$end assets were $$250,000.$ The firm's total$-$debt$-$to$-$

total$-$capital ratio was $47\mathrm{.}5\%.$ The firm finances using only debt and common equity, and its total assets equal total invested capital. Based on

the DuPont equation, what was the ROE? Do not round your intermediate calculations.

a$.13\mathrm{.}03\%$

b$.17\mathrm{.}08\%$

c$.14\mathrm{.}91\%$

d$.14\mathrm{.}48\%$

e$.11\mathrm{.}29\%$