Dacker Products is a division of a major corporation. The following data are for the...
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Accounting
Dacker Products is a division of a major corporation. The following data are for the most recent year of operations:
| Sales | $ | 37,480,000 | |
| Net operating income | $ | 3,308,960 | |
| Average operating assets | $ | 9,000,000 | |
| The company's minimum required rate of return | 15 | % | |
The division's residual income is closest to:
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