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The Casket Division of Saal Corporation had average operating assets of $1,010,000 and net operating income of $195,200 in January. The company uses residual income

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The Casket Division of Saal Corporation had average operating assets of $1,010,000 and net operating income of $195,200 in January. The company uses residual income to evaluate the performance of its divisions, with a minimum required rate of return of 11%. Required: What was the Casket Division's residual income in January

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