In November, the Universal Solutions Division of Keaffaber Corporation had average operating assets of $480,000 and net operating income of $46,200.The company uses residual income, with a minimum required rate of return of 11%, to evaluate the performance of its divisions.What was the Universal Solutions Division's residual income in November?

A) -$6,600
B) $5,082
C) $6,600
D) -$5,082

Residual Income

The income that exceeds the minimum required return on investment, often used as a performance measure in managerial accounting.

Required Rate Of Return

The minimum annual percentage return an investor expects to achieve from an investment, considering the risk involved.

Net Operating Income

A financial metric indicating the income generated from a company's core business operations, excluding deductions of taxes and interest.