Solved: The following data relates to logan electric and its light, Managerial Accounting

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The following data relates to logan electric and its light

The following data relates to Logan Electric and its Light Bulb Division.

Light Bulb Division sales $9,000,000

Light Bulb Division operating income $720,000

Light Bulb Division total assets $5,000,000

Light Bulb Division current liabilities $600,000

Corporate target rate of return 13?%

Corporate weighted average cost of capital 8?%

Corporate effective tax rate 20?%

What is the Light Bulb? Division's Residual Income? (RI)?

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Managerial Accounting: The following data relates to logan electric and its light

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