9) Michael purchased a Banana Stand street vending location for $7500 when he was in 8 th grade five years ago. Over the past five years Michael has enjoyed consistent operating income on average of $1050 per year. Michael has decided however that the time has come to sell the Banana Stand and is preparing some financial ratios to put in the for sale listing. He has asked you to help him calculate his return on investment. He has told you that the Banana Stand was expected to last 10 years from the time of purchase and he uses straight line depreciation and that if he were to build or acquire a similar stand today would cost him double his original purchase price. Calculate the ROI using current Net Book Value as your Average Operating Assets (round to one decimal i.e. XX.X%)

10) From the information provided in question 9) above, and if Michael had a required rate of return of 9%, calculate the Residual Income for the recent year of operations (use Original Cost for your Average Operating Asset value). (to nearest dollar)

answer for 9th is 28 I need 10th one?