Stilton Company (a U.S.-based company) has a subsidiary in Canada that began operations at the start of 2024 with assets of 176,000 Canadian dollars (CAD) and liabilities of CAD 93,000. During this initial year of operation, the subsidiary reported a profit of CAD 44,800. It distributed two dividends, each for CAD 8,000 with one dividend declared on March 1 and the other on October 1. Applicable U.S. dollar ($) exchange rates for 1 Canadian dollar follow: Stilton Company's assets Stilton Company's liabilities Subsidiary reported a profit Dividend declared on March 1 Dividend declared on October 1 CAD 176,000 CAD 93,000 CAD 44,800 CAD 8,000 CAD 8,000 January 1, 2024 (start of business) S 0.89 March 1, 2024 $ 0.87 Weighted average rate for 2024 S 0.86 October 1, 2024 $ 0.85 December 31, 2024 $ 0.84