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Lost Peak ski resort located in Montana caters to day sklers from nearby towns. Last year the company had net operating income of $430,000 on

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Lost Peak ski resort located in Montana caters to day sklers from nearby towns. Last year the company had net operating income of $430,000 on sales of $1,900,000. Lost Peak's average operating assets for the year were $2,100,000 and its minimum required rate of retum was 12% Required: Compute the company's residual income for the year. Resdua in com

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