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Cabal Products is a division of a major corporation. Last year the division had total...

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Accounting

Cabal Products is a division of a major corporation. Last year the division had total sales of $23,170,000, net operating income of $1,668,240, and average operating assets of $5,097,400. The company's minimum required rate of return is 19%.

The division's residual income is closest to:

$(1,937,012)

$1,668,240

$699,734

$2,636,746

Answer & Explanation Solved by verified expert
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