Use the Following Information to Answer Bellow Questions
Parex Corporation

Use the following information to answer bellow Questions
Parex Corporation, a U.S. company, acquired a wholly-owned subsidiary, located in Hong Kong, at the beginning of the current year, for HK$100,000. The subsidiary's functional currency is the Hong Kong dollar. The balance sheet of the subsidiary at the date of acquisition was as follows:
$\begin{array}{l}\text { Ass ets } \\\text { Tangible assets }&H K \$ 300,000\\\\\text { Liabilities and Equity }\\\text { Liabilities } & \text { HK\$260,000 } \\\text { Capital stock } & 10,000 \\\text { Retained earnings } & 30,000 \\\quad \text { Total liabilities and equity } & \text { HK } \$ 300,000\end{array}$ The HK$60,000 excess paid above book value is attributed to goodwill, which is not impaired during the current year. The exchange rate was $0.14/HK$ at the date of acquisition and $0.12/HK$ at the end of the current year.
-At the end of the year, what is the translated balance for goodwill?

A) $7,800
B) $8,400
C) $7,200
D) $6,000