Yang Corporation starts a foreign subsidiary on January 1 by investing 36,000 rand. Yang owns all of the shares of the subsidiarys common stock. The foreign subsidiary generates 72,000 rand of net income throughout the year and pays no dividends. The rand is the foreign subsidiarys functional currency. Currency exchange rates for 1 rand are as follows:

January 1	$0.25	=	1	rand
Average for the year	0.28	=	1
December 31	0.31	=	1

In preparing consolidated financial statements, what translation adjustment will Yang report at the end of the current year