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Assume that Marriot International Inc., a US hospitality company, manages a lodging establishment in France and it earned profits of 100,000. In January, the exchange
Assume that Marriot International Inc., a US hospitality company, manages a lodging establishment in France and it earned profits of 100,000. In January, the exchange rate was 1.00/$1.00. However, by the end of the year, the exchange rate changed and it is 2.00/$1.00 now. How much Marriot's profits in U.S. dollars increased or decreased due to the change in the exchange rate between Euro and US dollars? Group of answer choices An increase of $100,000 An increase of $50,000 A decrease of $50,000 A decrease of $100,000
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