The following data pertain to the Whalen Division of Northern Industries.

	Year 1	Year 2
Sales	$321,000	$642,000
Stockholders' equity	$40,100	$470,000
Average operating assets	?	?
Turnover	7.5	1.7
Return on investment	?	11.0%
Minimum required rate of return	?	8.75%
Residual income	$17,400	?

The margin at Whalen was exactly the same in Year 2 as it was in Year 1.

The return on investment in Year 1 was: (Round your intermediate calculations and final answer to 2 decimal places.)

	1.98%
	38.60%
	48.53%
	2.49%