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Rooney Corporation has a desired rate of return of 6 percent. Willam Tobin is in charge of one of Rooney's three investment centers His center

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Rooney Corporation has a desired rate of return of 6 percent. Willam Tobin is in charge of one of Rooney's three investment centers His center controlled operating assets of $2,500,000 that were used to earn $265,000 of operating income Required Compute Mr. Tobin's residual income Residual income

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