The total assets of the Philbin Company on January 1 were $2.3 million and on December 31 were $2.5 million. Net income was $188,000. Dividends totaled $75,000, interest expense totaled $70,000, and the tax rate was 30%. The return on total assets was closest to: 9.5% 6.8% 9.9% 10.8%

The total assets of the Philbin Company on January 1 were $2.3 million and on December 31 were $2.5 million. Net income was $188,000. Dividends totaled $75,000, interest expense totaled $70,000, and the tax rate was 30%. The return on total assets was closest to:

	9.5%
	6.8%
	9.9%
	10.8%

Answer
9.9%