Return to question 7 Benjamin, Inc., operates an export/import business. The company has considerable dealings with companies in the country of Camerrand. The denomination of all transactions with these companies is alaries (AL), the Camerrand currency. During 2017, Benjamin acquires 44,000 widgets at a price of 8 alaries per widget. It will pay for them when it sells them. Currency exchange rates for 1 AL are as follows: 0.59 points September 1, 2017 December 1, 2017 December 31, 2017 March 1, 2018 $ 0.47 9.43 8.49 0.44 a. Assume that Benjamin acquired the widgets on December 1, 2017, and made payment on March 1, 2018. What is the effect of the exchange rate fluctuations on reported income in 2017 and in 2018? the exchange rate fluctuations on reported income in 2017? exchange rate fluctuations on reported income in 2017 and in 2018? b. Assume that Benjamin acquired the widgets on September 1, 2017, and made payment on December 1, 2017. What is the effect of c.Assume that Benjamin acquired the widgets on September 1, 2017, and made payment on March 1, 2018. What is the effect of the (Input all amounts as positive values.) Effect of Exchange Rate Fluctuations 0 a. 2017 Loss Gain b. 2017 Gain c. 2017 Loss 2018 Gain 2018