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On January 1 , 2 0 1 6 , Doron Inc. borrowed 5 , 0 0 0 , 0 0 0 Swedish krona ( SEK

On January 1,2016, Doron Inc. borrowed 5,000,000 Swedish krona (SEK) from a bank in Sweden. The loan has a four-year life and requires an annual interest payment of 4%(payable on the first of the year). The following exchange rates exist for the krona relative to the Canadian dollar: The functional currency of Doron is the CAD $.
Date SEK 1=\times C$
January 1,2016.154
December 31,2016.157
Average 2016.161
January 1,2017.167
December 31,2017.162
Average 2017.159
January 1,2018.153
December 31,2018.149
Average 2018.145
January 1,2019.147
December 31,2019.154
Average 2019.152

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