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11. Use this information for Kellman Company to answer the question that follows.

    The balance sheets at the end of each of the first two years of operations indicate the following:

    Kellman Company
    	Year 2	Year 1
    Total current assets	$601,600	$571,000
    Total investments	60,200	52,800
    Total property, plant, and equipment	947,200	759,400
    Total current liabilities	111,100	86,500
    Total long-term liabilities	297,600	226,300
    Preferred 9% stock, $100 par	96,700	96,700
    Common stock, $10 par	584,700	584,700
    Paid-in capital in excess of parCommon stock	69,600	69,600
    Retained earnings	449,300	319,400

    Using the balance sheets for Kellman Company, if net income is $117,100 and interest expense is $43,600 for Year 2, what is the return on stockholders' equity for Year 2 (rounded to two decimal places)?

    a.10.61%

    b.11.27%

    c.10.31%

    d.12.03%