Question: Please explain the solution to this financial accounting problem with accurate principles Phoenix Corporation has $840,000 in invested assets and generated income from operations of

Please explain the solution to this financial accounting problem with accurate principles

Phoenix Corporation has $840,000 in invested assets and generated income from operations of $134,400. Their annual sales were $1,680,000, and their minimum required rate of return is 12%. What is Phoenix's rate of return on investment? (Round to one decimal place) Options: a. 16.0% b. 8.0% c. 14.3% d. 12.0%

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