familia Incorporated reported the following results from last years operations: Sales $ 16,100,000 Variable expenses 10,400,000 Contribution margin 5,700,000 Fixed expenses 4,734,000 Net operating income $ 966,000 Average operating assets $ 7,000,000 At the beginning of this year, the company has a $1,200,000 investment opportunity with the following characteristics: Sales $ 3,840,000 Contribution margin ratio 50 % of sales Fixed expenses $ 1,728,000 The companys minimum required rate of return is