Bacardi Limited is one of the largest privately held, family$-$owned spirits companies in the world and is known for its distilled rum. Bacardi reported the following results from last year's operations:

Sales

Variable expenses

Contribution margin

Fixed expenses

Net operating income

Average operating assets

$$12,600,000$

$7,760,000$

$4,840,000$

$3,706,000$

$$,1,134,000$

$$6,000,000$

Last year's return on investment $($ROI$)$ was closest to:

Multiple Choice

$9\mathrm{.}0\%$

$47\mathrm{.}6\%$