Question 3 (2.5 points) Funk Corporation is studying a project that would have a ten-year life and would require a $800.000 investment in equipment which has no salvage value. The project would provide net operating income each year for the life of the project as follows: Sales $900.000 Variable cash expenses 300.000 Contribution margin 600,000 Fixed expenses: Fixed cash expenses $300,000 Depreciation expense 80.000 380,000 Net operating income $220.000 The simple rate of return for this project is: 27.5% 37.5% 24.4% 33.3% None of the other answers are correct