Problem 18-11

The Latimore Company invested $9 million in a new plant in Italy when the exchange rate was 1.1500 euros to the dollar. At the end of the year, the rate was 1.2000 euros to the dollar.

How much? Do not round your intermediate calculations. Round your answer to the nearest dollar. Enter your answer in whole dollars. For example, an answer of $1.2 million should be entered as 1,200,000, not 1.2. $ fill in the blank 2

What was the tax impact if Latimores marginal tax rate is 40%? If an answer is zero, enter "0". $ fill in the blank 4