ACCOUNTING
Multiple Choice
Grant Company has invested $1,000,000 in a plant to make commercial juicer machines. The target operating income desired from the plant is $180,000 annually. The company plans annual sales of 7,000 juicer machines at a selling price of $200 each.
What is the target rate of return on investment for Grant Company?
a. 22.0%
b. 18.0%
c. 14.8%
d. 12.9%
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