Westerville Company reported the following results from last year's operations: Sales Variable expenses Contribution margin Fixed expenses Net operating income Average operating assets $ 1,000,000 300,000 700,000 500,000 $ 200,000 $ 625,000 At the beginning of this year, the company has a $120,000 Investment opportunity with the following cost and revenue characteristics: Salon Contribution margin ratio Fixed expenses $ 200,000 60 of sales 90,000 The company's minimum required rate of return is 15%. Foundational 10-1 Required: 1. What is last year's margin