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XYZ Inc's total shareholders' equity is $4,052,340 on Dec 31, Year 3, and $4,809,370 on Dec 31, Year 4. Both balances include $743,490 of preferred
XYZ Inc's total shareholders' equity is $4,052,340 on Dec 31, Year 3, and $4,809,370 on Dec 31, Year 4. Both balances include $743,490 of preferred shares balance. The preferred shares have a dividend rate of 7.45%. If the company's net income is $908,390 in Year 4, what is the company's return on average common shareholders' equity in Year 4? Assume there are no other transactions during the year in the equity balances other than the net income and the dividends.
Question 14 options:
| 23.13% |
| 23.71% |
| 24.29% |
| 24.87% |
| 25.45% |
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