A U.S.firm has total assets valued at £890,000 located in London.This valuation did not change from last year.Last year,the exchange rate was £0.62 = $1.Today,the exchange rate is £0.68 = $1.By what amount did these assets change in value on the firm's U.S.financial statements?
A) -$126,660.34
B) $-113,511.03
C) $-87,248.91
D) $113,511.03
E) $126,660.34
Correct Answer:
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