Advance financial

On January 1, 2018, Pass Company acquired Study PLC, a British subsidiary, by purchasing all its common stock at book value. Dividends of 5,000 were declared and paid on July 1, 2018 and on November 1, 2018. Exchange Rates Table January 1, 2016 1 $1.20 December 31, 2017 1 $1.25 January 1, 2018 1 $1.25 July 1, 2018 1 $1.26 November 1, 2018 1 $1.27 December 26, 2018 1 $1.31 December 31, 2018 1 $1.35 Average for 2018 1 $1.30 Assume the U.S. dollar is the functional currency. Using the appropriate restatement method, what is the amount of dividends paid in dollars? O a. $12,500 b. $12,650 O c. $12,700 O d. $12,600