Requirements 1. a. Calculate the U.S. division's operating income for 2020. b. Calculate the Norwegian division's ROI for 2020 in kroner. 2. Top management wants to know which division earned a better ROI in 2020. What would you tell them? Explain your answer. 3. Which division do you think had the better RI performance? Explain your answer. The required rate of return on investment (calculated in U.S. dollars) is 10%. More info Both investments were made on December 31, 2019. The exchange rate at the time of Sealand's investment in Norway on December 31, 2019, was 7 kroner = $1. During 2020, the Norwegian kroner decreased steadily in value so that the exchange rate on December 31, 2020, is 8 kroner = $1. The average exchange rate during 2020 is [(7+8)2] = 7.5 kroner = $1. Data table Operating income Total assets ROI U.S. Division Norwegian Division ? 7,350,000 kroner $ 8,500,000 49,000,000 kroner 17.00% ?