The assets listed below of a foreign subsidiary have been converted to U.S. dollars at both current and historical exchange rates. Assuming that the recording currency of the foreign subsidiary is the functional currency, what total amount should appear for these assets on the U.S. company's consolidated balance sheet?

Asset	Historical Rates					Current Rate
Prepaid Insurance		$	60,000				$	48,000
Buildings (Net)			480,000					240,000
Inventories, at Cost			300,000					288,000
Investments, at Cost			120,000					60,000
Total		$	960,000				$	636,000

Multiple Choice

• $636,000

• $648,000

• $708,000

• $960,000