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Tinsley Plastics manufactures plastic bottles used for beverages and household cleaners. The average net book value (NBV) of assets during the quarter is estimated as

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Tinsley Plastics manufactures plastic bottles used for beverages and household cleaners. The average net book value (NBV) of assets during the quarter is estimated as $660,000. If the required rate of return is 12% on average assets and the firm wants to have residual income (RI) of $116,000 for this quarter what must its profits be? Profit

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