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A U.S. firm has total assets valued at 890,000 located in London. This valuation did not change from last year. Last year, the exchange rate
A U.S. firm has total assets valued at 890,000 located in London. This valuation did not change from last year. Last year, the exchange rate was 0.62 = $1. Today, the exchange rate is 0.68 = $1. By what amount did these assets change in value on the firm's U.S. financial statements?
a -$126,660.34
b $-113,511.03
c $-87,248.91
d $113,511.03
e $126,660.34
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