A U.S. company acquired a subsidiary in the U.K at the beginning of the year. The subsidiarys beginning and ending trial balances, in pounds, are as follows:

	Beginning balances Dr (Cr)	Ending balances Dr (Cr)
Cash, receivables	100,000	1,300,000
Noncurrent assets, net	6,500,000	5,800,000
Liabilities	(4,000,000)	(4,200,000)
Capital stock	(600,000)	(600,000)
Retained earnings, beginning	(2,000,000)	(2,000,000)
Revenues		(4,000,000)
Out-of-pocket-operating expenses		3,000,000
Depreciation, amortization		700,000

Revenues and out-of-pocket expenses were incurred evenly over the year. Noncurrent assets are carried at amortized cost, and no new noncurrent assets were acquired. Exchange rates (U.S. dollars/) are:

Beginning of year $1.40

Average for the year 1.42

End of year 1.45

Assuming the subsidiarys functional currency is the pound, the subsidiarys end-of-year total assets are:

Select one:

$ 9,940,000

$10,082,000

$10,005,000

$10,295,000

this is the right answer but I don't know why