Find below the Company balance sheet for year-end 2525.Balance Sheet, 12/31/2525Current Assets$1,600 $2,800 DebtPP&E$5,600 $4,400 Stockholders equity (550 shares)$7,200 $7,200 Total For year 2526 the company forecasts sales of $28,800 , a net profit margin (= net income sales) of 5.3%, a dividend payout ratio (=dividendsnet income) of 60%, and depreciation that is 16% of beginning-of-year PP&E. Throughout year 2526 Debt remains unchanged. The company expects to make capital expenditures such that for the year-end 2526 balance sheet PP&E is $200 larger than it is on the 2525 balance sheet above.Suppose the Capital expenditure is financed exclusively by issuing new equity at the stock price of year-end 2525. Also, suppose the equity price-to-book ratio is constant at 2.2 . Find the stockholders annual rate of return for year 2526.a. 33.2% b. 44.1% c. 36.5% d. 48.6% e. 40.1%