Waldron is considering selling to a group of new customers that will bring in sales of $8,000,000 with a bad debt percentage of 15%. Waldron will have collection costs of $144,000 and Cost of Goods Sold and selling expenses of 70% of sales. They have a tax rate of 30%. The only additional investment they will have in accounts receivable in which they turnover of 4. Their return on investment will be:

a. 9.24%

b. 36.96%

c. 34.32%

d. 8.58%

Please show your work.