Perfect Products provided the following selected information about its consumer products division for the current year:
$\begin{array}{llr}
\text {Desired ROI } &14\%\
\text {Net income } &\$220,000\
\text { Residual income } &\$15,000
\end{array}$
Required:Based on this information, calculate the company's investment amount. Round your answer to the nearest dollar.

Question

Perfect Products provided the following selected information about its consumer products division for the current year:
 $\begin{array}{llr}
  \text {Desired ROI  } &14\%\
 \text {Net income  } &\$220,000\
 \text { Residual income } &\$15,000
\end{array}$
 Required:Based on this information, calculate the company's investment amount. Round your answer to the nearest dollar.

Quizplus · Accepted Answer

The Answer of Perfect Products provided the following selected information about its consumer products division for the current year:
 $\begin{array}{llr}
  \text {Desired ROI  } &14\%\
 \text {Net income  } &\$220,000\
 \text { Residual income } &\$15,000
\end{array}$
 Required:Based on this information, calculate the company's investment amount. Round your answer to the nearest dollar.