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 Reference: 12-09 \text { Reference: 12-09 } The Northern Division of Gordon Company Reported the Following Data

question 15

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 Reference: 12-09 \text { Reference: 12-09 } The Northern Division of Gordon Company reported the following data for last year:  Sales $900,000 Stockholders’ equity $320,000 Operating expenses $700,000 Average operating assets $500,000 Interest expense $50,000 Tax expense $60,000 Minimum required rate of return 15%\begin{array} { | l | l | } \hline \text { Sales } & \$ 900,000 \\\hline \text { Stockholders' equity } & \$ 320,000 \\\hline \text { Operating expenses } & \$ 700,000 \\\hline \text { Average operating assets } & \$ 500,000 \\\hline \text { Interest expense } & \$ 50,000 \\\hline \text { Tax expense } & \$ 60,000 \\\hline \text { Minimum required rate of return } & 15 \% \\\hline\end{array}
-The return on investment last year for the Northern Division was?

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