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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
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 $410,000 on sales of $1,600,000. The companys average operating assets for the year were $1,800,000 and its minimum required rate of return was 15%.
Required:
Compute the companys residual income for the year.
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