Question: In its financial statements KRJ reported (in $ thousands) net income of $405 and an effective tax rate of 33%. Total assets at the

In its financial statements KRJ reported (in $ thousands) net income of $405 and an effective tax rate of 33%. Total assets at the beginning of the year was $3,311 and at the end of the year $3,555. The LIFO reserve at the beginning of the year was $360 and at the end of the year $248. Calculate the return on assets after including the adjustment for LIFO. Present your answer in percentage terms, rounded to two decimal places, e.g., 20.00%.

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