Chace Products Is a Division of a Major Corporation

Multiple Choice

Chace Products is a division of a major corporation. Last year the division had total sales of $21,300,000, net operating income of $575,100, and average operating assets of $5,000,000. The company's minimum required rate of return is 12%.
-The manufacturing cycle efficiency (MCE) was closest to:

A) 0.15
B) 0.05
C) 0.45
D) 0.18