Question 14 2 pts Calculating Required Rate of Return Question The following information relates to last year's operations at the Bread Division of the Lone Pine Bakery: Question Data Residual income $12,000 Net operating income $60,000 $300,000 Average operating Assets $400,000 Required: 1. What was the Bread Division's minimum required rate of return last year? Hint: Use the Residual income Formula to Solve