The Northern Division of the Gordon Company reported the following data for last year: Sales.......... $900,000 Shareholders' Equity... $320,000 Operating Expenses..... $700,000 Average Operating Assets.... $500,000 Interest Expense............................ $50,000 Tax Expense.... $60,000 Minimum Required Rate of Return..... 15% What was the residual income for the Northern Division last year? $ 90,000 $ 48,000 $ 125,000 $ 135,000