Flingen Inc. reveals the following information in their annual report for FY 2022 Selected Income Statement Items: Sales $11,800,000 Cost of goods sold $5,500,000 Pretax earnings $950,000 Selected Balance Sheet Items: Merchandise inventory $950,000 Total assets $3,900,000 Upper management plans to cut cost of goods sold by 7.5% for the coming year but retain the same sales and weeks of inventory. What is the return on assets estimated to be for 2023?

Group of answer choices

38.1%

31.0%

35.6%

36.6%