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Ajax Company, a US company, has a subsidiary in Germany that has cash of 420,000, accounts receivable of 250,000, inventory of 1,300,000 that was obtained
Ajax Company, a US company, has a subsidiary in Germany that has cash of 420,000, accounts receivable of 250,000, inventory of 1,300,000 that was obtained at an average exchange rate of $1.15/, and plant and equipment of 22,500,000 that was obtained when the exchange rate was $1.20/. The current exchange rate is $1.10/. Calculate the dollar value on the balance sheet of all assets today using the current rate method.
Group of answer choices $27,427,500 $29,232,000 $26,917,000 $22,245,455
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