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Payne Company reported the following information for the current year: Sales $ 810,000 Average operating assets $ 310,000 Desired ROI 13 % Net income $

Payne Company reported the following information for the current year: Sales $ 810,000 Average operating assets $ 310,000 Desired ROI 13 % Net income $ 51,000 The company's residual income was:

$14,000.
$40,300.
$24,700.
$10,700.

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