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The balance sheets at the end of each of the first two years of operations indicate the following: Kellman Company Year 2 Year 1 Total

The balance sheets at the end of each of the first two years of operations indicate the following:

Kellman Company
Year 2 Year 1
Total current assets $607,060 $559,494
Total investments 66,615 48,696
Total property, plant, and equipment 864,921 729,029
Total current liabilities 105,213 83,487
Total long-term liabilities 297,920 242,847
Preferred 9% stock, $100 par 91,685 91,685
Common stock, $10 par 570,391 570,391
Paid-in capital in excess of par-common stock 62,993 62,993
Retained earnings 410,394 285,816

Using the balance sheets for Kellman Company, if net income is $114,723 and interest expense is $40,083 for Year 2, what is the return on total assets for the year (round percent to two decimal points)?

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