You have a small business. Your first-year financials are as follows: - Startup costs: 60,800 - Gross salos: 865,800 Total expenses: 826,500 Income taxes: 80,370 What is the return on investment (ROI) for your first year of business? A 1.96% B. 51% C. 61% D. 92%

To calculate the return on investment (ROI) for your first year of business, we need to follow these steps:<br /><br />1. Calculate the net profit:<br /> Net profit = Gross sales - Total expenses - Income taxes<br /> Net profit = $805,800 - $328,500 - $80,370 = $396,930<br /><br />2. Calculate the ROI:<br /> ROI = (Net profit / Start-up costs) * 100<br /> ROI = ($396,930 / $60,800) * 100 = 65.5%<br /><br />Therefore, the correct answer is C. 65.5%.