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Selected financial data from the June 30 year-end statements of Safford Company are given below:...

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Accounting

Selected financial data from the June 30 year-end statements of Safford Company are given below: Total assets $ 5,800,000 Long-term debt (9% interest rate) $ 600,000 Total stockholders equity $ 2,700,000 Interest paid on long-term debt $ 54,000 Net income $ 410,000 Total assets at the beginning of the year were $5,600,000; total stockholders equity was $2,500,000. The companys tax rate is 30%. Required: 1. Compute the return on total assets. (Round your percentage

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