! Required Information The Foundational 15 (LO10-1, LO10-2) [The following information applies to the questions displayed below) Westerville Company reported the following results from last year's operations: Sales variable expenses Contribution margin Fixed expenses Net operating income Average operating assets $1,000,eee 3ee, eee 700, eee 500,000 $ 200, eee $ 625,000 At the beginning of this year, the company has a $120,000 investment opportunity with the following cost and revenue characteristics: Sales Contribution margin ratio Fixed expenses $ 200,000 60% of sales $ 90, eee The company's minimum required rate of return is 15% Foundational 10-3 3. What is last year's return on investment (RON)? (Round your Intermediate calculations to 1 decimal place.) %