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Exercise 9-9A (Alg) Residual income LO 9-3 Frankiln Corporation has a desired rate of return of 7 percent. Wiilam Tobin is in charge of one

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Exercise 9-9A (Alg) Residual income LO 9-3 Frankiln Corporation has a desired rate of return of 7 percent. Wiilam Tobin is in charge of one of Frankilin's three investment centers. His center controlled operating assets of $2,500,000 that were used to earn $276,000 of operating income. Required Compute Mr. Tobin's residual income

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