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A food manufacturer reports the following for two of its divisions for a recent year. ($ millions) Beverage Division Cheese Division Invested assets, beginning $

A food manufacturer reports the following for two of its divisions for a recent year.

($ millions) Beverage Division Cheese Division
Invested assets, beginning $ 2,695 $ 4,488
Invested assets, ending 2,609 4,416
Sales 2,697 3,941
Operating income 365 650

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3,941 Operating income ok 865 650 nt Assume that each of the company's divisions has a required rate of returr your answers in millions.) int (S millions) Beverage Cheese Targeted return Target income Beverage Cheese Residual Income Residual income

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