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Juniper Design Limited of Manchester, England, is a company specializing in providing design services to...

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Accounting

Juniper Design Limited of Manchester, England, is a company specializing in providing design services to residential developers. Last year the company had net operating income of $480,000 on sales of $2,000,000. The companys average operating assets for the year were $2,200,000 and its minimum required rate of return was 12%.

Required:

Compute the companys residual income for the year.

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