Thomas Company had income before interest and taxes of $120,000.Interest expense for the period was $17,000 and income taxes amounted to $28,500.The average stockholders' equity was $680,000.Thomas' return on equity (ROE)is closest to:
A)17.65%
B)15.15%
C)13.46%
D)10.96%

Question

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The Answer of Thomas Company had income before interest and taxes of $120,000.Interest expense for the period was $17,000 and income taxes amounted to $28,500.The average stockholders' equity was $680,000.Thomas' return on equity (ROE)is closest to:
A)17.65%
B)15.15%
C)13.46%
D)10.96%

Thomas Company Had Income Before Interest and Taxes of $120,000