Flagship Logistics Provides the Following Information What Is the Company's Asset Turnover Ratio? (Round Your Answer

Multiple Choice

Flagship Logistics provides the following information: $$\begin{array} { | l | r | } \hline \text { Operating income } & \$ 1,500,000 \\\hline \text { Net sales } & \$ 14,000,000 \\\hline \text { Average total assets } & \$ 2,000,000 \\\hline \text { Management's target rate of return } & 25 \% \\\hline\end{array}$$ What is the company's asset turnover ratio? (Round your answer to two decimal places.)

A) 4.00
B) 4.48
C) 12.44
D) 7.00