Selected financial data for Irvington Company appear below:

Account Balances

End of year Beginning of year

Preferred shares $$125,000$ $$125,000$

Common shares $$400,000$ $$300,000$

Retained earnings $$185,000$ $$75,000$

During the year, the company paid dividends of $$10,000$ on its preferred shares. The company's net income for the year was $$120,000.$ The company's return on common shareholders' equity for the year is closest to:

Multiple Choice

$19\%.$

$17\%.$

$25\%.$

$23\%.$