A New Zealand company has total assets valued at A$14 000 000,located in Western Australia.This valuation did not change from last year.Last year the exchange rate was A$0.92 per 1 NZ$.Now the exchange rate is A$0.88 per 1 NZ$.By what amount did the assets change in value on the company's New Zealand financial statement?
A) NZ$909 090
B) NZ$560 000
C) NZ$589 836
D) NZ$478 231
E) NZ$691 700
Correct Answer:
Verified
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