The following data are provided:

December 31

20212020

Cash$ 1,500,000$ 1,000,000

Accounts receivable (net)1,600,0001,200,000

Inventories2,600,0002,200,000

Plant assets (net)7,000,0006,500,000

Accounts payable1,100,000800,000

Income taxes payable200,000100,000

Bonds payable1,400,0001,400,000

8% Preferred stock, $50 par2,000,0002,000,000

Common stock, $10 par2,400,0001,800,000

Paid-in capital in excess of par1,600,0001,300,000

Retained earnings4,000,0003,500,000

Net credit sales12,800,000

Cost of goods sold8,400,000

Operating expenses2,900,000

Net income1,500,000

Additional information:

Depreciation included in cost of goods sold and operating expenses is $1,220,000. On May 1, 2021, 60,000 shares of common stock were issued. The preferred stock is cumulative. The preferred dividends were not declared during 2021.

The return on common stockholders' equity for 2021 is (shown to 2 decimal places:xx.xx%):