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The U.S.tax system is extremely regressive.
Denominated
Specifies the currency in which a financial transaction or bond issue is expressed.
Currency
The system of money in general use in a particular country.
Translation Gains
Financial gains resulting from converting the financial statements of a foreign subsidiary into the parent company's reporting currency.
Realized
Refers to profits or losses that have been made official by a transaction or event, distinguishing them from unrealized or paper profits or losses.
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