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The Hum Division of the Ho Company reported the following data for last year: Net operating income 150,000 Interest expense 50,000 Tax expense 30,000 Stockholders'
The Hum Division of the Ho Company reported the following data for last year: Net operating income 150,000 Interest expense 50,000 Tax expense 30,000 Stockholders' equity 200,000 Average operating assets 600,000 Minimum required rate of return 12% The residual income for the Hum Division last year was: C $78,000 O $22,000 O $46,000 $126,000
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