Juniper Design Ltd. of Manchester, England, is a company specializing in providing design services to residential developers. Last year the company had net operating income of £ 600,000 on sales of £ 3,000,000 The company's average operating assets for the year were £ 2,800,000 and its minimum required rate of return was 18%. (The currency used in England is the pound, denoted by f.
Required:
Compute the company 's residual income for the year.