In November, the Universal Solutions Division of Keaffaber Corporation Had

Multiple Choice

In November, the Universal Solutions Division of Keaffaber Corporation had average operating assets of $480,000 and net operating income of $46,200. The company uses residual income, with a minimum required rate of return of 11%, to evaluate the performance of its divisions. What was the Universal Solutions Division's residual income in November?

A) ($6,600)
B) $5,082
C) $6,600
D) ($5,082)