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What is the division residual income

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Reference no: EM132737332

Question - Assume the Hiking Shoes division of the Simply Shoes Company had the following results last year (in thousands). Management's target rate of return is 20% and the weighted average cost of capital is 10%. Its effective tax rate is 25%.

Sales $6,000,000

Operating income 2,700,000

Total assets 3,500,000

Current liabilities 760,000

Required - What is the division's Residual Income (RI)?

Reference no: EM132737332

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