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What the division residual income is closest to

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Dacker Products is a division of a major corporation. The following data are for the most recent year of operations:

Sales                                  $36,980,000
Net operating income              $3,058,960
Average operating assets         $8,500,000

The company's minimum required rate of return 14%

Problem 1: The division's residual income is closest to:

Multiple Choice

Option 1: -$3,058,960

Option 2: -$4,248,960

Option 3: -$(3,277,840)

Option 4: -$1,868,960

Reference no: EM132667777

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