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A U.S. company has a single, wholly-owned affiliate in Japan. This affiliate has exposed assets of JPY 500 million and exposed liabilities of JPY 800

A U.S. company has a single, wholly-owned affiliate in Japan. This affiliate has exposed assets of JPY 500 million and exposed liabilities of JPY 800 million. The exchange rate appreciates from JPY 150/USD to JPY 100/USD. What is the translation gain or loss?

		A translation gain of JPY 1 million.
		A translation gain of JPY 3 million.
		A translation loss of JPY 3 million.
		A translation loss of JPY 1 million.
		None of the answers is correct.

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