Balance Sheet
	Beginning Balance	Ending Balance
Assets
Cash	$ 138,000	$ 136,000
Accounts receivable	344,000	489,000
Inventory	569,000	476,000
Plant and equipment, net	859,000	849,000
Investment in Tesla Inc.	403,000	427,000
Land (undeveloped)	247,000	254,000
Total assets	$ 2,560,000	$ 2,631,000
Liabilities and Stockholders' Equity
Accounts payable	$ 376,000	$ 346,000
Long-term debt	1,045,000	1,045,000
Stockholders' equity	1,139,000	1,240,000
Total liabilities and stockholders' equity	$ 2,560,000	$ 2,631,000

JEY-5310 Inc. Income Statement
Sales		$ 5,211,000
Operating expenses		4,273,020
Net operating income		937,980
Interest and taxes:
Interest expense	$ 113,000
Tax expense	194,000	307,000
Net income		$ 630,980

JACK CO paid dividends of $529,980 last year. The Investment in Tesla Inc. item on the balance sheet represents an investment in the stock of another company. The company's minimum required rate of return is 15%.

What was the companys residual income last year?

multiple choice

$ 648,480

$ 638,980

$ 661,230

$ 641,730