Patricof Corporation has a division in the United States, and another in France. The investment in the French assets was made when the exchange rate was $1.20 per euro. The average exchange rate for the year was $1.30 per euro. The exchange rate at the end of the fiscal year was $1.38 per euro. Income and investment for the two divisions are: (Click the icon to view the information.) Read the requirement. Calculate the RI for the two divisions in their local currencies. Select the formula to calculate the RI and then compute the RI for each division. Requirement Income for current year United States $ France 383,900 266,400 )- Investment in assets -( $ 3,490,000 euros -( 2,400,000 euros x Required rate of return RI 10 % ) $ 34,900 10% )= 26,400 euros The required return for Patricof is 10%. Calculate ROI and RI for the two divisions in their local currencies. For the French division, also calculate these measures using dollars. Which division is doing better? Print Done For the French division, also calculate these measures using dollars. Begin by calculating the investment in assets and income for the current year in dollars. Select the formula to calculate these amounts and then compute each amount for the France division in dollars. Investment in assets Income for current year Amount in Amount in euros Exchange rate U.S. dollars 2,400,000 266,400 $ 1.20 $ $ 1.30 $ 2,880,000 346,320 Calculate the French division's ROI using dollars. Select the formula and then compute the ROI using dollars. (Enter all amounts in dollars. Enter the ROI as Income for current year France $ 346,320 Investment in assets 2,880,000 ROI 12.0% Calculate the French division's RI using dollars. Select the formula and then compute the RI using dollars. (Enter all amounts in dollars.) Income for current year -( France $ 346,320 Investment in assets 2,880,000 The results suggest that performance was better in France Required rate of return RI 10% )= $ 58,320 Move your pointer over or tan on the cells with red arrows to see incorrect answers Data Table - Investment in assets $ United States 3,490,000 France 2,400,000 Income for current year $ 383,900 266,400 Print Done