Question: 3. Spring Valley Company's Blue Division had average operating assets of $620,000 and net operating income of $86,000 in February. The company uses residual income

3. Spring Valley Company's Blue Division had average operating assets of $620,000 and net operating income of $86,000 in February. The company uses residual income to evaluate the performance of its divisions, with a minimum required rate of return of 14%. Required: What was the Blue Division's residual income in February

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