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The following data pertains to the Electronics Division of the Maxwell & Ashley Company: Sales $1,000,000 Invested capital $700,000 Noninterest-bearing current liabilities $80,000 Net operating

The following data pertains to the Electronics Division of the Maxwell & Ashley Company: Sales $1,000,000 Invested capital $700,000 Noninterest-bearing current liabilities $80,000 Net operating profit after taxes $82,000 Minimum required rate of return 9% Cost of capital 7%

How much is residual income for the Electronics Division?

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