3. You purchase 1,000 American Depository Receipts (ADRs) of Sony Corporation (ticker symbol SNE) at $104.50 per ADR. Over the course of the next month, the Japanese yen appreciates by 4%, while the price of Sony Corporations shares listed in Japan declines by 2.5%. The Company does not pay a dividend during this period. From this information alone, you can collude the value of your position in the ADRs has:

A. Decreased by $2,612.50

B. Increased by $1,463.00

C. Increased by $4,180.00

D. Not enough information has been provided.