Question: I need help finding the accurate solution to this general accounting problem with valid methods. Based on the following data: Net income 240,000 Preferred dividends

I need help finding the accurate solution to this general accounting problem with valid methods.

Based on the following data: Net income 240,000 Preferred dividends | $60,000 Interest expense $120,000 Interest income $40,000 Average total assets | $1,000,000 What is the rate earned on total assets? A. 36% B. 28% C. 18% D. 30%

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