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The Latimore Company invested $8.8 million in a new plant in Italy when the exchange rate was 1.1500 euros to the dollar. At the end
The Latimore Company invested $8.8 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.
- Did Latimore make or lose money on the exchange rate movement?
- What kind of exchange rate gain or loss was it?
- What was the tax impact if Latimores marginal tax rate is 40%? If an answer is zero, enter "0".
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