The year-end financial statements of Time Company reveal average shareholders equity attributable to controlling interest of $1,674,566 thousand, net operating profit after tax of $48,032 thousand, net income attributable to the company of $29,068 thousand, and average net operating assets of $708,828 thousand. The companys return on equity (ROE) for the year is:

Select one:

a. 2.9%

b. 6.8%

c. 1.7%

d. 4.1%

e. There is not enough information to calculate the ratio.