Bungert Inc. reported the following results from last years operations: Sales $ 15,200,000 Variable expenses 9,470,000 Contribution margin 5,730,000 Fixed expenses 4,818,000 Net operating income $ 912,000 The companys minimum required rate of return is 12% and its average operating assets were $8,000,000. Last year's residual income was closest to: Multiple Choice $912,000 ($48,000) $960,000 ($972,800)