Question 4 of 14 < > -/0.5 E !!! Minor & Neece, Ltd, operates retail clothing stores in Nashville. Knoxville, and Memphis, Tennessee. Each store is evaluated as an investment center. Selected results from the latest year are as follows. Nashville Knoxville Memphis Sales $5,043,000 $8,078,000 $2,076,000 Variable expenses 2,027,000 4,831,000 1,018,000 Direct fixed expenses 2,027,000 2,465,000 825,000 Assets 4,000,000 5,000,000 1,600,000 Required rate of return 14% 14% 14% Weighted average cost of capital 8% 8% 8% Tax rate 30% 30% 30% (a) Calculate the residual income for each of the three stores. (If the residual income is a loss then enter with a negative sign preceding the number eg-15,000 or parenthesis. eg. (5,125).) Residual income Nashville Knoxville Memphis