What is the return on capital employed?

A. 39.0%

B. 44.9%

C. 48.0%

D. 17.8%

E. 34.0%

Using the following balance sheet and income statement

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Balance sheet m Property 200 Trade payables Plant and equipment 300 Tax due Other non-current assets 20 Other current liabilities m 65 14 Inventory 135 Share capital (1 shares) 145 Trade receivables 85 Reserves 174 Cash 30 770 Long-term loans 305 770 Income statement (and other changes in equity) m Sales (of which 1,100 are on credit) 1,600 Operating costs (1,300) Interest (20) Profit before tax Profit after interest and tax Dividends paid Retained profits 280 (60) 220 (80) 140