Fissler AG, headquartered in Germany, records all of it sales worldwide in euros. Its USA division realized sales of €2,675,000 last year when the exchange rate was $1.33/€ and sales of €2,355,000 this year when the exchange rate was $1.48/€. What was the percent change in USD revenues for the USA division over the last year?
A) -13.99%
B) -11.96%
C) -2.03%
D) -20.89%
Correct Answer:
Verified
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