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Walton Corporation has a desired rate of return of 7 percent. William Tobin is in charge of one of Walton's three investment centers. His center

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Walton Corporation has a desired rate of return of 7 percent. William Tobin is in charge of one of Walton's three investment centers. His center controlled operating assets of $2,450,000 that were used to earn $272,000 of operating income. Required Compute Mr. Tobin's residual income. Residual income S 152,960 %

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