A CFO of a US based firm is forecasting a net income of TL300,000 for the overseas operations in Turkey. He knows that during his forecasting period, the exchange rate has changed from $1.20/TL1.00 to $0.90/TL1.00. CFO would like to convert TL income to US dollars. How the net income in US dollars has been affected by the change in the exchange rate? $90,000 increase in net income $90,000 decrease in net income $93,000 decrease in net income $97,000 increase in net income