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1) A project that cost $90000 has a useful life of 5 years and a salvage value of $3000

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1) A project that cost $90000 has a useful life of 5 years and a salvage value of $3000. The internal rate of return is 12% and the annual rate of return is 18%. The amount of the annual net income is

2) Required information Selected sales and operating data for Division A of McAllister Structural Engineers is presented below: 
Division A Sales $24,000,000 Average operating assets $3,000,000 Net operating income $480,000 Minimum required rate of return 14% 
Compute the residual income for Division A.