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Dacker Products is a division of a major corporation. The following data are for the most recent year of operations:
| Sales | $ | 37,980,000 | |
| Net operating income | $ | 3,558,960 | |
| Average operating assets | $ | 9,500,000 | |
| The company's minimum required |
16 | % | |
The division's margin used to compute ROI is closest to:
-
34.4%
-
37.5%
-
25.0%
-
9.4%
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