One division of the Marvin Educational Enterprises has depreciable assets costing $4,700,000. The cash flows from these assets for the past three years have been: Year Cash flows 1 $ 1,739,000 2 $ 1,974,000 3 $2,068,000 The current (i.e., replacement) costs of these assets were expected to increase 20% each year. Marvin used the straight-line depreciation method; the estimated useful life is 10-years with no salvage value. For return on investment (ROI) calculations, Marvin uses end-of-year balances. What is the ROI using historical cost and gross book value? Year 1 Year 2 Year 3 A. 27.0 % 32.0 % 34.0 % B. 32.0 % 35.0 % 35.5 % C. 25.0 % 33.5 % 31.5 % D. 37.0 % 42.0 % 44.0 % Option A Option B Option C Option D