Central Division of the Craft Company generated a segment margin of ($244,765) for the year 2004 and

Question:

Central Division of the Craft Company generated a segment margin of $$244,765$ for the year 2004 and the amount invested in the division was $$1,335,500$. The company’s required rate of return is 17 percent.

Required: Determine the residual income for the Central Division.

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