Paula Boothe president of the Concord Corporation, has mandated a minimum 9% return on investment for any project undertaken by the company. Given the company's decentralization, Paula leaves all investment decisions to the divisional managers as long as they anticipate a minimum rate of return of at least 11%. The Energy Drinks division, under the direction of manager Martin Koch, has achieved a 14% return on investment for the past three years. This year is not expected to be different from the past three. Koch has just received a proposal to invest $3,000,000 in a new line of energy drinks that is expected to generate $360,000 in operating income. (a) Calculate the return on investment expected on the new line of energy drinks. (Round answer to 1 decimal place, eg 5.1%.) 90000 % Return on Investment