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Assume the Hiking Shoes division of the Simply Shoes Company had the following results last year (in thousands). Management's target rate of return is 25%.
Assume the Hiking Shoes division of the Simply Shoes Company had the following results last year (in thousands). Management's target rate of return is 25%. Its effective tax rate is 40%. Sales $14,000,000 Operating income 5,600,000 Total assets 2,000,000 Current liabilities 820,000 What is the division's Residual Income (RI)
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