Financial data for Oak Company for last year appear below: Oak Company Statements of Financial Position Beginning Balance Ending Balance Assets: Cash $ 256,000 $ 231,200 Accounts receivable 144,000 192,000 Inventory 310,000 240,000 Plant and equipment (net) 492,000 445.000 Investment in Cedar Company 301,000 286,000 Land (undeveloped 280.000 280.000 Total assets $ 1.783.000 $ 1.674.200 Liabilities and owners' equity: Accounts payable $ 214,000 Long-term debt 810.000 Owners' equity 259.000 Total liabilities and owners' equity $ 1.783.000 $ 238,000 810,000 626.200 $ 1.674 200 Oak Company Income Statement Sales $ 2,060,000 1828.980 Less: operating expenses Net operating income Less interest and taxes 231,020 Interest expense $ 96,900 Tax expense Net income 63 800 $70,320 The company paid dividends of $178,000 last year. The "Investment in Cedar Company on the statement of financial position represents an investment in the stock of another company. Compute the company's return on investment for last year. The Board of Directors of Oak Company has set a minimum required return of 15%. What was the company's residual income last year