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Cabal Products is a division of a major corporation. Last year the division had total sales of $11,650,000, net operating income of $1,141,700, and average
Cabal Products is a division of a major corporation. Last year the division had total sales of $11,650,000, net operating income of $1,141,700, and average operating assets of $3,495,000. The company's minimum required rate of return is 11%. |
The division's residual income is closest to: |
$1,141,700
$757,250
$(768,900)
$1,526,150
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