3. Excess capacity adjustments Monk Consortium Corp. (Monk-Con) had sales of $1,720,000 last year on fixed assets of $270,000. Given that Monk-Con's fixed assets were being used at only 96% of capacity, then the firm's fixed asset turnover ratio was 7.007x How much sales could Monk Consortium Corp. (Monk-Con) have supported ent level of fixed assets? 6.0515x $1,702,084 5.4145x $1,791,667 6.370x O $1,522,917 $1,970,834 When you consider that Monk-Con's fixed assets were being underused, what should be the firm's target fixed assets to sales ratio? O 15.07% 12.81% 16.58% 14.32% Suppose Monk-Con is forecasting sales growth of 18% for this year. If existing and new fixed assets are used at 100% capacity, the firm's expected fixed assets turnover ratio for this year is