Flingen Inc. reveals the following information in their annual report for FY 2020

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 5% for the coming year but retain the same sales and weeks of inventory. What is the return on assets estimated to be for 2021?

Group of answer choices

38.1%

31.0%

28.2%

21.0%