Apple Automotive Parts (AAP) is a division of OLD Automotive, AAP produces one product, a specialized mechanical car jack, which is sold to all Canadian Automobile Associations in Ontario. The jack is sold for $380 each and sales for the past year were 10,000 jacks. The variable costs to manufacture it are $300 per unit. The fixed costs associated with operating the plant are $500,000. The plant has the capacity to make a total of 18,000 jacks per year and the net average operating assets (investments) related to this division amount to $2,400,000. OLD Automotive has a minimum required rate of return of 13% on any investments. Another company NEW Automotive has recently announced its intention to acquire the AAP division. NEW Automotive has stated that they expect all divisions within the corporation to have a 24% return on all investments. Required: Please copy and paste the chart with requirements into the answer section and fill in. Show all calculations. 1. Calculate the current Return on Investment for AAP division? ROI = Rough work: 2. Calculate the current Residual Income for AAP division? RI= Rough work: 3. What is the required revenue in units sed that the AAP division must make to satisfy the new owners' desired rate of return of 24%? Required Units Solda CRough work 4. Provide the management team with valuable advice regarding part 3 above. Edit Format Table