Bungert Inc. reported the following results from last year's operations: Sales$15,200,000Variable expenses 9,470,000Contribution margin 5,730,000Fixed expenses 4,818,000Net operating income$912,000?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. $992,000
B. $912,000
C. ($972,800)
D. ($48,000)
Answer: D
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Fill in the blank(s) with the appropriate word(s).