Hi, I am not sure what I am doing wrong with this problem:

The income statement for Huerra Company for last year is provided below:

Total Unit

Sales $38,000,000 $380.00

Less: Variable expenses 22,800,000 228.00

Contribution margin 15,200,000 152.00

Less: Fixed expense 7,600,000 76.00

Net operating income 7,600,000 76.00

Less: Income taxes @ 30% 2,280,000 22.80

Net income $5,320,000 $53.20

The company had average operating assets of $19,000,000 during the year.

Question: The company issues bonds and uses the proceeds to purchase machinery and equipment, thus increasing the average assets by $600,000. Interest on the bonds is $60,000 per year. Sales remain unchanged. The new more efficient equipment reduces fixed production costs by $30,000 per year.(Round intermediate and final answer to 2 decimal places.)

ROI: % Increase or Decrease?

I got ROI= 38.62% but it's not the correct answer. I tweak the decimals still not. What is wrong?

Thank you in advance!