Item18 Time Remaining 3 minutes 37 seconds 00:03:37 Item 18 Item 18 Time Remaining 3 minutes 37 seconds 00:03:37 Beery Inc. reported the following results from last years operations: Sales $ 11,400,000 Variable expenses 8,180,000 Contribution margin 3,220,000 Fixed expenses 2,422,000 Net operating income $ 798,000 Average operating assets $ 6,000,000 At the beginning of this year, the company has a $900,000 investment opportunity with the following characteristics: Sales $ 2,880,000 Contribution margin ratio 30 % of sales Fixed expenses $ 720,000 The companys minimum required rate of return is 12%. If the company pursues the investment opportunity, this year's combined residual income for the entire company will be closest to: