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Exercise 9-9A Residual income Climax Corporation has a desired rate of return of 7.50 percent. William Tobin is in charge of one of Climax's three

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Exercise 9-9A Residual income Climax Corporation has a desired rate of return of 7.50 percent. William Tobin is in charge of one of Climax's three investment centers. His center controlled operating assets of $4.000.000 that were used to earn $450,000 of operating income Required Compute Mr. Tobin's residual income

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