The following data are for the Akron Division of Consolidated Rubber, Inc.:

Sales	$	920,000
Net operating income	$	79,000
Average operating assets	$	420,000
Stockholders' equity	$	92,000
Residual income	$	32,000

For the past year, the minimum required rate of return was:

Multiple Choice

• 64.00%

• 11.19%

• 31.91%

• 8.59%