Megatron Corp. earned net income of 16,000 Euros in its overseas branch at France. Its headquarters is located in the U.S. The rate of conversion during set up was $1.309 / Euro. What is the value of its income in its home currency if the rate is $1.508 / Euro at the end of a financial year and the average rate being $1.410 / Euro?
A) $12,223
B) $22,560
C) $24,128
D) $20,944

Question

Quizplus · Accepted Answer

Value of income in home currency = 16,000 × 1.410 = $22,560