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Rundle Corporation has a desired rate of return of 7 percent. William Tobin is in charge of one of Rundle's three investment centers. His center

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Rundle Corporation has a desired rate of return of 7 percent. William Tobin is in charge of one of Rundle's three investment centers. His center controlled operating assets of $2,500,000 that were used to earn $272,000 of operating income. Required Compute Mr. Tobin's residual income

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