QUESTION $37$

The net income of a company for the year was $$700,000.$ The company has no preferred stock. Common stockholders' equity was $$2,270,000$ at the beginning of the year and $$2,540,000$ at the end of the year. Calculate the rate of return on common stockholders' equity. $($Round your answer to two decimal places.$)$

$30\mathrm{.}84\%$

$27\mathrm{.}56\%$

$11\mathrm{.}89\%$

$29\mathrm{.}11\%$