Last year, your firm purchased a warehouse in Germany at a cost of 1.6 million. The value of the warehouse has not changed. Suppose that last year, the exchange rate was 0.8549 per $1 and the spot rate today is .0.7538. What is the amount of the change in the value of the warehouse on the U.S. financial statements of your firm?

Select one:

a. $251,015

b. $268,417

c. $161,760

d. $172,909