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Exercise 15-14A (Algo) Residual income LO 15-7 Waiton Corporation has a desired rate of retum of 10 percent. Willam Tobin is in charge of one

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Exercise 15-14A (Algo) Residual income LO 15-7 Waiton Corporation has a desired rate of retum of 10 percent. Willam Tobin is in charge of one of Walton's three investment centers. His center controlled operating assets of $2,450,000 that were used to eam $265,000 of operating income. Required Compute Mr. Tobin's residual income

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