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1. The following data pertains to Timmins Company's operations last year: Return on investment (ROI) 20% Sales $ 800,000 Margin 5% Minimum required rate of

1. The following data pertains to Timmins Company's operations last year:

Return on investment (ROI) 20%

Sales $ 800,000

Margin 5%

Minimum required rate of return 16%

Required: a. Compute the company's average operating assets.

b. Compute the company's residual income for the year.

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