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ROI, Margin, Turnover, Residual Income The housewares division of Miller Company had the following results for 2022: Sales $26,200,000 Operating expenses $24,366,000 Operating assets Jan

ROI, Margin, Turnover, Residual Income

The housewares division of Miller Company had the following results for 2022:

Sales $26,200,000

Operating expenses $24,366,000

Operating assets Jan 1, 2022 $7,400,000

Operating assets Dec 31, 2022 $5,700,000

1) Calculate ROI, margin, and turnover for 2022. If the housewares division had residual income of $655,000, what is their minimum required rate of return?

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