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Juniper Design Limited of Manchester, England, provides design services to residential developers. Last year, the company had net operating income of $450,000 on sales of

Juniper Design Limited of Manchester, England, provides design services to residential developers. Last year, the company had net operating income of $450,000 on sales of $1,300,000. The company's average operating assets for the year were $1,500,000 and its minimum required rate of return was 14%. Required: Compute the company's residual income for the year. Residual income

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