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A Ghanaian company has a single, wholly owned subsidiary in Nigeria. This affiliate has exposed assets of N 8 0 0 million and exposed liabilities

A Ghanaian company has a single, wholly owned subsidiary in Nigeria. This affiliate has exposed assets of N

800

million and exposed liabilities of N

500

million. The cedi appreciates against the naira N

50

per cedi to N

80

per cedi. What is the amount of the translation gain or loss to the Ghanaian company?

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