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C Required information [The following information applies to the questions displayed below.] A food manufacturer reports the following for two of its divisions for a

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Required information [The following information applies to the questions displayed below.] A food manufacturer reports the following for two of its divisions for a recent year. ($millions ) Beverage Cheese Division Division Invested assets, beginning $2, 450 $4, 600 Invested assets, ending 2, 350 4, 500 Sales 2,683 3,927 Operating income 351 636 Assume that each of the company's divisions has a required rate of return of 8.00%. Compute residual income for each division. (Enter your answers in millions.) ($ millions) Beverage Cheese Targeted return Target income Residual Income Beverage Cheese Residual income

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