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. Ferris Wares is a division of a major corporation. The following data are for...

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Accounting

. Ferris Wares is a division of a major corporation. The following data are for the latest year of operations: Sales...................... $12,700,000

NOI......................... $1,054,100

Avg. Op. Assets....... $5,000,000

Min. Required rate of return.......16%

Required: a. What is the division's residual income?

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