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The following selected data pertain to the Stalvey Division of Beagle, Co., for the year just ended: Sales $400,000 Operating income 40,000 Turnover 4.0 Required

The following selected data pertain to the Stalvey Division of Beagle, Co., for the year just ended:

Sales

$400,000

Operating income

40,000

Turnover

4.0

Required rate of return

10%

What is Stalvey's residual income for the year?

$4,000

$10,000

$30,000

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