Pendant Publishing reported the following results for its Textbook Division: 
Pendant's target rate of return is 17% and the weighted average cost of capital is 16%. Its effective tax rate is 40%.
What is the Textbook Division's Residual Income (RI) ?
Definitions:
Machine Hours
A measure of production activity; the total hours that machines are operating in a manufacturing process.
Direct Labor Hours
The total hours worked by employees directly involved in the manufacturing process of a product.
Departmental Overhead Rates
The overhead costs charged to specific departments based on their respective activities or consumption of resources.
Machine Hours
The total number of hours that machinery is operating during a certain period, often used in costing and operational efficiency analysis.
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