Question 28 3 pts Snell Inc. reported the following results from last year's operations: Sales $9,600,000 Variable Expenses 6,810,000 Contribution Margin 2,790,000 Fixed Expenses 1,926,000 Net Operating Income $ 864,000 Average Operating Assets $4,000,000 At the beginning of this year, the company has a $1,200,000 investment opportunity with the following characteristics: Sales $4,200,000 Fixed Expenses $ 960,000 Contribution Margin Ratio 30% If the company pursues the investment opportunity and otherwise performs the same as last year, the combined margin for the entire company will be closest to: 8.4% 12.1% 6.3% 3.1%