Problem: Net income was $450,000. Beginning and ending stockholders' equity was $4,000,000 and $4,800,000, respectively. What was the return on equity (ROE)? A) 9.4% B) 10.23% C) 11.25% D) 10.41%

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Net income was $450,000. Beginning and ending stockholders' equity was $4,000,000 and $4,800,000, respectively. What was the return on equity (ROE)?

A) 9.4%

B) 10.23%

C) 11.25%

D) 10.41%

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