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What is the divisions residual income

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Reference no: EM131610846

Iba Industries is a division of a major corportation. 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:

What is the division's residual income?

 

Reference no: EM131610846

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