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Chace Products is a division of a major corporation. Last year the division had total sales of $22,100,000, net operating income of $579,100, and average
Chace Products is a division of a major corporation. Last year the division had total sales of $22,100,000, net operating income of $579,100, and average operating assets of $5,400,000. The company's minimum required rate of return is 12.75%.
The division's residual income is closest to:
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