11) Mad Dog Fence company expects to sell 300 fences p/yr for $1000 each. Monthly sales are 20% cash and 8 credit. Operating expenses are: variable costs of $450 p/fence and annual fixed costs of $80,000. Mad Dog total assets are worth $200,000. This include hammers, saws, post hole diggers and a truck and trailer for hauling equipment to work sites. James, the owner expects a 16% rate of return of return on assets. What is Mad Dog's annual Return on Investment? a. 43% b. 83% c. 55% d. 32%