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Juniper Design Limited of Manchester, England, is a company specializing in providing design services to residential developers. Last year the company had net operating income

Juniper Design Limited of Manchester, England, is a company specializing in providing design services to residential developers. Last year the company had net operating income of $470,000 on sales of $1,000,000. The companys average operating assets for the year were $1,200,000 and its minimum required rate of return was 10%.

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Compute the companys residual income for the year.

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