Tennill Inc. has a $1,400,000 investment opportunity with the following characteristics:       Sales $ 4,480,000   Contribution margin ratio    40% of sales   Fixed expenses $ 1,657,600               The ROI for this year's investment opportunity considered alone is closest to:     Please do not include the % sign in your answer. Round off to one place of decimal

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Tennill Inc. has a $1,400,000 investment opportunity with the following characteristics:

 

 

 

Sales

$

4,480,000

 

Contribution margin ratio 

 

40% of sales

 

Fixed expenses

$

1,657,600

 

         

 

The ROI for this year's investment opportunity considered alone is closest to:

 

 

Please do not include the % sign in your answer. Round off to one place of decimal.

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