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

Line Item Description	Year 2	Year 1
Total current assets	$620,723	$561,308
Total investments	61,044	47,736
Total property, plant, and equipment	928,119	774,621
Total current liabilities	110,038	88,670
Total long-term liabilities	286,232	225,014
Preferred 9% stock, $100 par	93,955	93,955
Common stock, $10 par	583,663	583,663
Paid-in capital in excess of par-common stock	68,910	68,910
Retained earnings	467,088	323,453

Using the balance sheets for Company, if net income is $111,525 and interest expense is $38,172 for Year 2, what is the return on total assets for the year (round percent to two decimal points)?

a. 8.06%

b. 6.93%

c. 9.77%

d. 10.00%