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	$622,481	$585,485
Total investments	62,154	51,217
Total property, plant, and equipment	896,052	624,980
Total current liabilities	117,730	85,474
Total long-term liabilities	286,267	235,152
Preferred 9% stock, $100 par	89,915	89,915
Common stock, $10 par	553,312	553,312
Paid-in capital in excess of par-common stock	69,074	69,074
Retained earnings	464,389	228,755

Using the balance sheets for Kellman Company, if net income is $111,103 and interest expense is $38,870 for Year 2, what is the return on stockholders' equity for Year 2 (round percent to two decimal points)?

Select the correct answer.

8.81%

7.03%

10.49%

10.55%