SkyBound Airlines provided the following information about its two operating divisions:

Measuring performance using return on investment (ROI), which division performed better?
a. The Cargo division, with an ROI of 10%.
b. The Passenger division, with an ROI of 16%.
c. The Cargo division, with an ROI of 18%.
d. The Passenger division, with an ROI of 22%.

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Operating profit Investment External borrowing rate Passenger S 40,000 250,000 Cargo S 50,000 500,000 5% 8%