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 $310 per unit. The fixed costs associated with operating the plant are $500,000. The plant has the capacity to make a total of 11,750 jacks per year and the net average operating assets investments related to this division amount to $2,000,000. 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 sold that the AAP division must make to satisfy the new owners' desired rate of return of 24%? Required Units Sold- BRough work: 4. Provide the management team with valuable advice regarding part 3 above