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A U.S. firm has total assets valued at 125,000 located in Germany. This valuation did not change from last year. Last year, the exchange rate
A U.S. firm has total assets valued at 125,000 located in Germany. This valuation did not change from last year. Last year, the exchange rate was 1.1 = $1. Today, the exchange rate is 0.8 = $1. By what amount did these assets change in value on the firm s U.S. financial statements? (Please explain the calculation.)
a. $44,200.16 b. $43,318.17 c. $42,613.64 d. $42,024.43 e. $41,666.67
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