[The following information applies to the questions displayed below.] Westerville Company reported the following results from last year's operations Sales Variable expenses Contribution margin Fixed expenses Net operating income $2,200,000 660,000 1,540,000 1,100,000 $440,000 Average operating assets $1,375,000 This year, the company has a $275,000 investment opportunity with the following cost and revenue characteristics $440,000 Sales Contribution margin ratio Fixed expenses 60% of sales $220,000 The company's minimum required rate of return is 15%. 8 Required information 12. What is the residual income of this year's investment opportunity? Residual income