Forman and Brasso Furniture Company had net income of $34,000 and owners' equity of $130,500. Compute the rate of return on investment. Express your answer as a percentage. (Round answer to two decimal places.)

Owners' Equity

The amount of the business that belongs to the owners after all debts and liabilities have been subtracted from total assets.

Investment

An investment is the allocation of resources, such as time, money, or effort, in expectation of generating an income or profit.