Westerville company reported the following results from last year’s operations: sales $ 1,000,000 variable expenses 300,000 contribution margin 700,000 fixed expenses 500,000 net operating income $ 200,000 average operating assets $ 625,000 at the beginning of this year, the company has a $120,000 investment opportunity with the following cost and revenue characteristics: sales $ 200,000 contribution margin ratio 60 % of sales fixed expenses $ 90,000 the company’s minimum required rate of return is 15%. foundational 10-1 required: 1. what is last year’s margin?