Juniper Design Ltd. 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 $2,000,000. The company's average operating assets for the year were $2,200,000 and its minimum required rate of return was 14%. Required: Compute the company's residual income for the year, Answer is complete but not entirely correct. Residual income $ 467 482