Gauntlett Inc. reported the following results from last year's operations: Sales$12,000,000Variable expenses 9,580,000Contribution margin 2,420,000Fixed expenses 1,460,000Net operating income$960,000Average 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 salesFixed expenses$2,059,200 ?The turnover for this year's investment opportunity considered alone is closest to:
A. 0.28
B. 16.67
C. 0.06
D. 3.60
Answer: D
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