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Compute the company residual income for the year

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Reference no: EM133169388

Question - Lost Peak ski resort located in Montana caters to day skiers from nearby towns. Last year the company had net operating income of $470,000 on sales of $1,500,000. Lost Peak's average operating assets for the year were $1,700,000 and its minimum required rate of return was 16%. Compute the company's residual income for the year.

Reference no: EM133169388

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