Parsa Inc. reported the following results from last year’s operations: Sales $ 14,000,000 Variable expenses 9,500,000 Contribution margin 4,500,000 Fixed expenses 3,800,000 Net operating income $ 700,000 Average operating assets $ 7,000,000 At the beginning of this year, the company has a $1,100,000 investment opportunity with the following characteristics: Sales $ 1,980,000 Contribution margin ratio 40 % of sales Fixed expenses $ 653,400 Last year's return on investment (ROI) was closest to: