Assume the Apple Division of the Gala Company Had the Following

Multiple Choice

Assume the Apple division of the Gala Company had the following results last year.
$\begin{array}{|l|r|}\hline\text { Sales } & \$ 3,000,000 \\\hline \text { Operating income } & 500,000 \\\hline \text { Total as sets (average) } & 4,500,000 \\\hline \text { Current liabilities } & 300,000\\\hline\end{array}$
Management's required rate of return is 10% and the weighted average cost of capital is 8%. Its effective tax rate is 30%.
-What is Apple division's return on investment?

A) 11.11%
B) 16.67%
C) 66.67%
D) 60.00%