The following data pertain to British Isles Aggregates Company, a producer of sand, gravel, and cement, for the year just ended.

Sales revenue		6,450,000
Cost of goods sold		3,003,000
Operating expenses		3,253,500
Average invested capital		3,225,000

denotes the British pound sterling, the national monetary unit of Great Britain.

If the sales and average invested capital remain the same during the next year, to what level would total expenses have to be reduced in order to improve the firms ROI to 10 percent?

	Total expenses must be reduced to