Cora Manufacturing makes fashion products and has two divisions: clothing and cosmetics. The company's results for the past year are as follows: Operating Income Current Liabilities $1,750,000 $2,500,000 2,400,000 3,500,000 The company's WACC is 11% and is used as the required rate of return. The company's tax rate is 30%. Clothing Cosmetics Required: 1. Calculate the ROI and residual income for each division, assuming that investment is measured as assets less current liabilities. ROI: Imputed cost of investment Income measure Investment measure RI Clothing After-tax operating income WACC Total assets Current liabilities EVA thing 2. Compute each division's Economic Value Added. Clothing Assets $11,500,000 9,000,000 Cosmetics Cosmetics Cosmetics