The following data show the past 2 years of operation for a company Year 1 Year 2 Return on investment 12% 20% Residual Income ? $25,000 Required Rate of Return 8% 10% Sales $400,000 $500,000 Asset Turnover ? ? Assets Net Operating Income ? ? Additional Information: 1. The sales margin in Year 2 is twice the margin of the first year 2. The company had the same asset turnover in both years. What is the residual income in Year 1? $8,000 $24,000 $10.000 $16.000