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Question
Holo Company reported the following financial numbers for one of its divisions for the year; average total assets of $5,800,000; sales of $5,375,000; cost of goods sold of $3,225,000; and operating expenses of $1,147,000. Assume a target income of 15% of average invested assets. Compute residual income for the division:A.$150,450.
B.$196,750.
C.$150,500.
D.$133,000.
E.$100,300.
Answer
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