Question 9 (10 points) The balance sheets at the end of each of the first two years of operations indicate the following: Year 2 Year 1 Total current assets $600,000 $560,000 60,000 40,000 Total investments Total property, plant, and equipment Total current liabilities 900,000 700,000 125,000 65,000 Total long-term liabilities 350,000 250,000 Preferred 9% stock, $100 par 100,000 100,000 600,000 600,000 Common stock, $10 par Paid-in capital in excess of par-Common stock Retained earnings 75,000 75,000 310,000 210,000 1 If net income is $150,000 and interest expense is $20,000 for Year 2, what is the rate earned on stockholders' equity for Year 2? 6.9% 14.5% 0 O 16.04% 13.8%