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The Rainy Division of Seattle Corporation reported the following results from the past year. Shareholders...

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Accounting

The Rainy Division of Seattle Corporation reported the following results from the past year. Shareholders require a return of 13%. Management calculated a weighted minus average cost of capital (WACC) of 5%. Rainy's corporate tax rate is 35%. Sales $ 800,000 Operating income 160,000 Total assets... 1,100,000 Current liabilities. 400,000 What is the division's Residual Income (RI)?

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