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The Basketball Division of Sparrow Sports Enterprises reported the following financial data for the year: Assets available for use $1,200,000 Book Value $1,500,000 Market Value

The Basketball Division of Sparrow Sports Enterprises reported the following financial data for the year: Assets available for use $1,200,000 Book Value $1,500,000 Market Value Residual income $108,000 Return on investment 14% Refer to Sparrow Sports Enterprises. What was the target rate of return for Sparrow Sports Enterprises

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