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Chec Exercise 15-14 Residual income LO 15-7 Thornton Corporation has a desired rate of return of 7 percent. William Tobin is in charge of one

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Chec Exercise 15-14 Residual income LO 15-7 Thornton Corporation has a desired rate of return of 7 percent. William Tobin is in charge of one of Thornton's three investment centers. His center controlled operating assets of $2,500,000 that were used to earn $275,000 of operating income. Required Compute Mr. Tobin's residual income. Residual income

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