A U.S.firm has total assets valued at €687,000 located in Germany.This valuation did not change from last year.Last year,the exchange rate was €0.94 = $1.Today,the exchange rate is €.0.75 = $1.By what amount did these assets change in value on the firm's U.S.financial statements?
A) -$185,148.94
B) -$162,311.19
C) $162,311.19
D) $185,148.94
E) $0
Correct Answer:
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