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The Consumer Products Division of Mickolick Corporation had average operating assets of $ 4 1 9 , 0 0 0 and net operating income of

The Consumer Products Division of Mickolick Corporation had average operating assets of $419,000 and net operating income of $39,000 in August. The minimum required rate of return for performance evaluation purposes is 8%. What was the Consumer Products Division's residual income in August?

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