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Monte Limited , a foreign subsidiary has the following items in its statement of profit or loss ( note all items are in FC S

Monte Limited , a foreign subsidiary has the following items in its statement of profit or loss ( note all items are in FC S ) :

Revenue $ 55 000 ,

Cost of goods sold $ 12 000 ,

Interest expense $ 8 000 ,

Income tax expense $ 10 000 .

All items were earned or incurred evenly across the year .

The following exchange rates applied :

Balance date FC $ 1 = A $ 0.75 Average rate for year FC $ 1 = A $ 0.80 The net profit after tax translated into the presentation currency is

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