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Iba Industries is a division of a major corportation. The following data are for the latest year of operations: Sales.................$5,820,000 Net operating income............$436,500 Average operating

Iba Industries is a division of a major corportation. The following data are for the latest year of operations:

Sales.................$5,820,000

Net operating income............$436,500

Average operating assets............$2,000,000

The company's minimum required rate of return.................18%

Required:

What is the division's residual income?

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