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Grommet Corp. makes heavy duty industrial fasteners. The Corporation has revenues of $1,588,000 resulting in an operating income of $138,000. Average invested assets total $784,000.

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Grommet Corp. makes heavy duty industrial fasteners. The Corporation has revenues of $1,588,000 resulting in an operating income of $138,000. Average invested assets total $784,000. Calculate the ROI if sales increase by 10% and the profit margin and investment level remain constant. (Round your intermediate calculations and final answers to 2 decimal places.) Multiple Choice

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