The following data pertain to Dakota Divisions most recent year of operations. Income $ 10,500,000 Sales revenue
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Question:
The following data pertain to Dakota Division’s most recent year of operations.
Income | $ | 10,500,000 | |
Sales revenue | 130,000,000 | ||
Average invested capital | 51,000,000 | ||
Assume that the company’s minimum desired rate of return on invested capital is 10 percent.
Required:
Compute Dakota Division’s residual income for the year.
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