Selected financial data for Peterson Company appear below:

Account

Balances

End of Year

Beginning of Year

Common stock$800,000

$600,000

Preferred stock250,000

240,000

Retained earnings370,000

150,000

During the year, the company paid dividends of $20,000 on its preferred stock. The company's net income for the year was $240,000. The company's return on common stockholders' equity for the year is closest to: