Grady Corporation Provides the Following Financial Information Calculate the Target Rate of Return

Multiple Choice

Grady Corporation provides the following financial information: $$\begin{array} { | l | r | } \hline \text { Minimum acceptable operating income } & \$ 556,600 \\\hline \text { Average total assets } & \$ 2,000,000 \\\hline \text { Operating income } & \$ 708,000 \\\hline \text { Return on investment } & 35.40 \% \\\hline \text { Net sales } & \$ 900,000 \\\hline\end{array}$$ Calculate the target rate of return.(Round your answer to two decimal places. )

A) 27.83%
B) 78.67%
C) 35.40%
D) 61.84%