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Liono4ka [1.6K]
3 years ago
14

The following data are for the Akron Division of Consolidated Rubber, Inc.: Sales $ 820,000 Net operating income $ 59,000 Averag

e operating assets $ 320,000 Stockholders' equity $ 82,000 Residual income $ 22,000 For the past year, the minimum required rate of return was: Multiple Choice 44.00% 11.56% 23.10% 7.20%
Business
1 answer:
VladimirAG [237]3 years ago
7 0

Answer:

11.56%

Explanation:

The computation of the minimum required rate of return is shown below:

Residual income = Net operating income - (Average operating assets × minimum required rate of return)

$22,000 = $59,000 - ($320,000 × minimum required rate of return)

After solving this the minimum required rate of return is 11.56%

By applying the above formula we can find out the minimum required rate of return

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