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IrisCorp. has the following operating data for the past 2 years: Year 1 Year 2 Returnon Investment 10% 20% Residual Income $600 ? Required Rate

IrisCorp. has the following operating data for the past 2 years:

Year 1 Year 2

Returnon Investment 10% 20%

Residual Income $600 ?

Required Rate of return 8% 10%

Average operating assets ? $42,000

Sales in year 2 is $60,000 more than sales in year 1.

The Company had the same capital turnover in both years.

Q:) What is the sales margin in Year 2? Use two decimal places in the answer (for example, if the answer is 83%, key in "0.83").

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