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 $1,100,000. The company's average operating assets for the year were $1,300,000 and its minimum required rate of return was 11%. 5 points Required: Compute the company's residual income for the year. Answer is complete but not entirely correct. Residual income $504,000