During the year, a company generated $95,000 in net income. Also during the year, the company's stockholders'

Question:

During the year, a company generated $95,000 in net income. Also during the year, the company's stockholders' equity grew from $550,000 at the beginning of the year to $595,300 at the end of the year.
Required
Calculate the company's return on equity for the year. Round percentages to one decimal point (i.e., 9.4%).