The following information applies to the questions displayed below.$]$Westerville Company reported the following results from last years operations:Sales$ $1,300,000$Variable expenses$440,000$Contribution margin$860,000$Fixed expenses$600,000$Net operating income$ $260,000$Average operating assets$ $812,500$At the beginning of this year, the company has a $$162,500$ investment opportunity with the following cost and revenue characteristics:Sales$ $260,000$ Contribution margin ratio$80\%$ of salesFixed expenses$ $182,000$ The companys minimum required rate of return is $15\%.$Required:$1.$ What is last years margin?