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Hep Save & Exit Sub Chavin Company had the following results during August: net operating...

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Hep Save & Exit Sub Chavin Company had the following results during August: net operating income, $360,000; turnover, 3; and ROI 24%. Chavin Company's average operating assets were: Multiple Choice O $120,000 O $86,400 O $1,080,000 The following data has been provided for a company's most recent year of operations: Return on investment Average operating assets Minimum required rate of return 24% $70,000 19% The residual income for the year was closest to: Multiple Choice 0 $3,500 C O ) $15.00 $15,800 If net operating income is $62,000, average operating assets are $310,000, and the minimum required rate of return is 14%, what is the residual income? Multiple Choice $80,600 $24.800

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