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

Multiple Choice

Grady Corporation provides the following financial information: $$\begin{array} { | l | r | } \hline \text { Minimum acceptable operating income } & \$ 520,000 \\\hline \text { Average total assets } & \$ 2,600,000 \\\hline \text { Operating income } & \$ 700,000 \\\hline \text { Return on investment } & 26.92 \% \\\hline \text { Net sales } & \$ 850,000 \\\hline\end{array}$$ Calculate the target rate of return.(Round your answer to two decimal places.)

A) 20.00%
B) 82.35%
C) 26.92%
D) 61.18%