Time Remaining 56 minutes 13 seconds 00:56:13 Item 6 Item 6 Time Remaining 56 minutes 13 seconds 00:56:13 Gauntlett Inc. reported the following results from last years operations: Sales $ 12,000,000 Variable expenses 9,580,000 Contribution margin 2,420,000 Fixed expenses 1,460,000 Net operating income $ 960,000 Average operating assets $ 5,000,000 At the beginning of this year, the company has a $1,300,000 investment opportunity with the following characteristics: Sales $ 4,680,000 Contribution margin ratio 50 % of sales Fixed expenses $ 2,059,200 The turnover for this years investment opportunity considered alone is closest to: