Winton Company has three divisions. The Florida Division has a 30 percent tax rate, a 4.5 percent cost of capital, and a 7.5 percent required rate of return. During the fiscal year, the division reported sales of $3,920,000. Interest expense was $120,000 and net income was $122,800. The Florida Division has total assets of $2,950,000 and noninterest-bearing liabilities of $150,000. How much is the Florida Divisions residual income?

$80,800

($3,200)

$32,800

None of these answer choices are correct.