Determine the April 20xx Residual Income for an Investment Center

Multiple Choice

Determine the April 20xx residual income for an investment center with the following information: $\begin{array}{|l|l|}\hline \text { Operating income for the month ended April 30,20:x } & \$ 14,900,000 \\\hline \text { Assets at March 31, 20:sx } & 10,200,000 \\\hline \text { Assets at April 30, 20:x } & 13,150,000 \\\hline \text { Desired ROI } & 49 \% \\\hline \text { Actual ROI } & 60 \% \\\hline\end{array}$

A) $8,456,500
B) $8,780,000
C) $9,179,250
D) $8,945,750