Please show work! Daab Products is a division of a major corporation. The following data...
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Accounting
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Daab Products is a division of a major corporation. The following data are for the most recent year of operations:
| Sales | $11,520,000 |
| Net operating income | $322,560 |
| Average operating assets | $3,000,000 |
| The company's minimum required rate of return | 10% |
The division's residual income is closest to:
| $322,560 | ||
| ($829,440) | ||
| $622,560 | ||
| $22,560 |
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