Vestorville company reported the following results from last year's operations

Sales 1,000,000

Variable expenses 300,000

Contribution margin 700,000

Fixed expenses 500,000

Net operating income 200,000

Average operating assets 625,000

At the beginning of this year, the company has a $120,000 investment opportunity with the following cost and revenue characteristics

Sales 200,000

Contribution margin ratio 60% sales

Fixed expenses 90,000

The company's minimum required rate of return is 15%

Question?

What is last year's margin?