Bungert Inc.reported the following results from last year's operations:
The company's minimum required rate of return is 12% and its average operating assets were $8,000,000.Last year's residual income was closest to:
A) $912,000
B) ($48,000)
C) $992,000
D) ($972,800)

Question

Bungert Inc.reported the following results from last year's operations:
 The company's minimum required rate of return is 12% and its average operating assets were $8,000,000.Last year's residual income was closest to:
A) $912,000 
B) ($48,000) 
C) $992,000 
D) ($972,800)

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