Lofft Corporation has provided the following contribution format income statement. Assume that the following information is within the relevant range. Sales (2,000 units) $120,000 Variable expenses Contribution margin Fixed expenses Net operating income S 13,500 90,000 30,000 16,500 Using the degree of operating leverage, the estimated percent increase in net operating income as the result of a 10% increase in sales is closest to: Multiple Choice 1.13%