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Division Z-1 of Company reported sales revenue of $750,000 during 2031. The division's turnover for 2031 was 1.50 and its margin was equal to 20%. 

Division Z-1 of Company reported sales revenue of $750,000 during 2031. The division's turnover for 2031 was 1.50 and its margin was equal to 20%. Division Z-1 had a minimum required rate of return during 2031 of 17%. Calculate Division Z-1's residual income for 2031.

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