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Last year, the Mexican peso/U.S. dollar exchange rate was MXN13.2018/$. Today, the exchange rate is MXN14.5309/$. A U.S. firm has total assets worth MXN12,810,000
Last year, the Mexican peso/U.S. dollar exchange rate was MXN13.2018/$. Today, the exchange rate is MXN14.5309/$. A U.S. firm has total assets worth MXN12,810,000 located in Mexico that did not change in value over the year. What was the change in the value of the assets in dollars on the company's U.S. balance sheet?
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Global Strategy
Authors: Mike W. Peng
5th Edition
0357512367, 978-0357512364
