Here is some data on the turnover and operating activities of the three divisions of a multinational construction company. Divisions Asia Europe North America Sales 12 000 000 $ 14 000 000 $ 25 000 000 $ 3 000 000 $ 7 000 000 $ 5 000 000 $ Average operating assets Net profit 500 000 $ 650 000 $ 800 000 $ Cost of capital required or minimum required rate of return 14% 10% 16 % 1. Calculate the ROI (return on invested capital) for each of the divisions. 2. Calculate the RNR (Residual Net Income, also called Residual Profit) for each of the divisions. 3. Suppose each division receives an investment opportunity that would generate a return or rate of return of 15%. a) If the performance of the divisions is measured using the RNR, which one or which of them are likely to accept this offer? Which one or which will reject it? Why? b) If the performance of the divisions is measured using the ROI, which one or which of them are likely to accept this offer? Which one or which will reject it? Why