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Determine how much is residual income

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Question 1: Lilly Company had sales of $430,000, variable costs of $202,000, and direct fixed costs totaling $88,000. The company's operating assets total $230,000, and its required return is 10.40%. How much is residual income?

Option 1: $116,080

Option 2: $204,080

Option 3: $318,080

Option 4: $140,000

Reference no: EM132565388

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