The Simpson Group converts $1,000,000 into euros when the exchange rate is $1 = 0.75. After three months, the company converts this back into dollars when the exchange rate is $1= 0.80. What is the outcome of this transaction? a loss of $66,667 a gain of $62,500 a gain of $50,000 a loss of $62,500 a loss of $50,000

The Simpson Group converts $1,000,000 into euros when the exchange rate is $1 co.75. After three months, the company converts this back into dollars when the exchange rate is $1 - 60.80 . What is the outcome of this transaction? a loss of $66,667 a gain of $62,500 a gain of $50,000 a loss of $62,500 a loss of $50,000