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Suppose the German subsidiary of a U.S. firm had current assets of 3 million, fixed assets of 6 million, and current liability of 3 million
Suppose the German subsidiary of a U.S. firm had current assets of 3 million, fixed assets of 6 million, and current liability of 3 million both at the start and at the end of the year. There are no long-term liabilities. If the euro depreciated during that year from $1.48 to $1.38, the FASB-52 translation gain(loss) to be included in the parent company's equity account is?
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