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Handle Fabrication is a division of a major corporation. Last year the division had total sales of $36,160,000, net operating income of $2,892,800, and average

Handle Fabrication is a division of a major corporation. Last year the division had total sales of $36,160,000, net operating income of $2,892,800, and average operating assets of $8,000,000. The company's minimum required rate of return is 12%.

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What is the division's return on investment (ROI)?

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