Acc505 Managerial Accounting: (TCO D) Ferro Wares is a division of a major corporation

Acc505 Managerial Accounting

(TCO D) Ferro Wares is a division of a major corporation. The following data are for the latest year of operations:
Sales 33,040,000
Net Operating Income 1,453,760
Average Operating Assets 8,000,000
The Company ‘s minimum required rate of return 18 %

Required:
i. What is the division's return on investment (ROI)?
ii. What is the division's residual income?
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