The Seasonal Division of The Hudson Bay Department Store had a net income of $660,000, a net asset base of $5,000,000, and a required rate of return of 10%. Sales for the period totalled $4,000,000. What was the residual income for the period?
A) $80,000
B) $160,000
C) $360,000
D) $480,000

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The Answer of The Seasonal Division of The Hudson Bay Department Store had a net income of $660,000, a net asset base of $5,000,000, and a required rate of return of 10%. Sales for the period totalled $4,000,000. What was the residual income for the period?
A) $80,000
B) $160,000
C) $360,000
D) $480,000

The Seasonal Division of the Hudson Bay Department Store Had