Multiple Choice
The Auto Division of Big Department Store had a net income of $560,000,a net asset base of $4,000,000,and a required rate of return of 12 percent.Sales for the period totalled $3,000,000.What is the residual income for the period?
A) $80,000
B) $120,000
C) $360,000
D) $480,000
Correct Answer:
Verified
Correct Answer:
Verified
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