The following selected data pertain to Garfield Landscaping for last year. ...
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Accounting
The following selected data pertain to Garfield Landscaping for last year.
| Sales | $2,000,000 |
| Variable costs | $1,200,000 |
| Traceable fixed costs | $200,000 |
| Average invested capital (assets) | $3,000,000 |
| Current liabilities | $200,000 |
| Required rate of return | 15% |
| Marginal tax rate | 36% |
| Weighted average cost of capital | 12% |
Required
(a) Calculate the residual income.
(b) Calculate the return on investment.
(c) Calculate the economic value added.
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