In Calculating Return on Investment (ROI),the Use of Book Values

In calculating return on investment (ROI) ,the use of book values of assets-particularly fixed assets-in the ROI denominator

A) is the preferable method.
B) may cause a manager of a division with fully depreciated assets to be reluctant to replace the assets with more costly assets.
C) is required by generally accepted accounting principles.
D) may cause a manager of a division with fully depreciated assets to replace the assets with newer,more efficient,but more costly assets.