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Holt Company Ltd determined residual income for the year of 22,000. The company's cost of capital was 12 per cent, the investment turnover was 2.0,

Holt Company Ltd determined residual income for the year of 22,000. The company's cost of capital was 12 per cent, the investment turnover was 2.0, and capital invested was 400,000. What was Holt Company's profit during the year? A. 26,000 B. 48,000 C. 74,000 D. 70,000

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