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What is the division residual income for iba industries

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Reference no: EM132632475

Iba Industries is a division of a major corporation. The following data are for the latest year of operations:

Sales $5,820,000

Net operating income $436,500

Average operating assets $2,000,000

The company's minimum required rate of return 18%

Required:

Problem 1: What is the division's residual income?

Reference no: EM132632475

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